§ 5-908

Maryland § 5-908

• Jurisdiction: Maryland
• Article gnr: Natural Resources
• Title: 5

Text

(a) In this section, “Fund” means the Fair Hill Improvement Fund.

(b) (1) There is a Fair Hill Improvement Fund in the Department, to be used for the operation, maintenance, development, and improvement of the Fair Hill facilities at Fair Hill, Maryland.

(2) Money credited to the Fund under § 11–704 of the Business Regulation Article shall be used exclusively for the grounds and facilities within the special event area at Fair Hill.

(c) Any money obtained by the Department from Fair Hill shall be credited to the Fund.

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

(2) Any investment earnings of the Fund may not be transferred or revert to the General Fund of the State, but shall remain in the Fund.

(3) Money in the Fund may be used for administrative costs calculated in accordance with § 1–103(b)(2) of this article.

(e) For fiscal year 2024, and each fiscal year thereafter, the Governor may include in the annual budget bill an appropriation of at least $1,800,000 to the Fund to be used exclusively for the purposes specified under subsection (b)(2) of this section.

(f) Notwithstanding any other provision of this title, the Department may use the Fund to provide a grant or grants to a unit of State government, a local jurisdiction, a nonprofit entity, or an affiliated foundation established by the Maryland Stadium Authority under § 10–612 of the Economic Development Article, if:

(1) The Department has entered into an agreement with the grant recipient for the ongoing operation, use, maintenance, development, or improvement of the grounds and facilities within the special event area at Fair Hill; and

(2) The grant funds are restricted to the purposes required to be included in the grant agreement under item (1) of this subsection and the grant recipient’s associated administrative costs.