§ 5-909

Maryland § 5-909

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

Text

(a) In this section, “Fund” means the Natural Resources Property Maintenance Fund.

(b) There is a Natural Resources Property Maintenance Fund in the Department.

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

(e) The Fund consists of:

(1) Money appropriated in the State budget to the Fund;

(2) Revenue deposited into the Fund in accordance with § 5–908.1(b) of this subtitle;

(3) Interest earnings; and

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

(f) The Fund may be used only for:

(1) Maintaining, repairing, and managing property owned by the Department;

(2) Managing, operating, maintaining, and developing Somers Cove Marina; and

(3) Administrative expenses calculated in accordance with § 1–103(b)(2) of this article.

(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 Fund.

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