§ 5-2109

Maryland § 5-2109

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 5

Text

(a) There is a Maryland Alcohol Manufacturing Promotion Fund.

(b) The purpose of the Fund is to provide grants that promote the advantages and attributes of State breweries, distilleries, and wineries and their products manufactured in the State.

(c) The Secretary shall administer the Fund.

(d) (1) The Fund is a special, nonlapsing fund that is not subject to reversion under § 7–302 of the State Finance and Procurement Article.

(2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.

(e) The Fund consists of:

(1) revenue distributed to the Fund under § 2–301(b) of the Tax – General Article;

(2) money appropriated in the State budget to the Fund; and

(3) any other money from any other source accepted for the benefit of the Fund.

(f) The Fund may be used only for:

(1) grants to eligible applicants under § 5–2110 of this subtitle; and

(2) administrative expenses of the Fund.

(g) (1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.

(2) Any interest earnings of the Fund shall be credited to the General Fund of the State.

(h) Expenditures from the Fund may be made only in accordance with the State budget.