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§ 13-104. Small Business Development Center Network Fund

West's Annotated Code of MarylandEducationEffective: March 13, 2021

West's Annotated Code of Maryland
Education (Refs & Annos)
Division III. Higher Education [Titles 10-20] (Refs & Annos)
Title 13. University of Maryland--General Provisions (Refs & Annos)
Subtitle 1. Branches, Commissions, and Institutes (Refs & Annos)
Effective: March 13, 2021
MD Code, Education, § 13-104
§ 13-104. Small Business Development Center Network Fund
Currentness
Fund defined
(a) In this section, “Fund” means the Small Business Development Center Network Fund.
In general
(b) There is a Small Business Development Center Network Fund.
Purpose of Fund
(c) The purpose of the Fund is to provide matching funds for federal grant funds and to support the operations of the Small Business Development Center Network in the University of Maryland, College Park Campus.
Nature of Fund
(d) The Fund is a special, continuous, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
Fund held separately by State Treasurer
(e) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
Investment of Fund proceeds
(f) The proceeds of the Fund shall be invested and reinvested.
Earnings of Fund credited to General Fund
(g) Any investment earnings of the Fund shall be credited to the General Fund of the State.
Contents of Fund
(h) The Fund consists of:
(1) Any money appropriated to the Fund;
(2) Any federal grant funds; and
(3) Any other money from any other source accepted for the benefit of the Fund.
Expenditures from Fund
(i) Money in the Fund may only be expended to support the operations of the Small Business Development Center Network.
Appropriations to Fund
(j) For the fiscal year beginning July 1, 2021, and each fiscal year thereafter, the Governor shall include in the annual budget bill a General Fund appropriation of at least $1,150,000 to the Fund.

Credits

Added by Acts 2005, c. 336, § 1, eff. June 1, 2005; Acts 2005, c. 337, § 1, eff. June 1, 2005. Amended by Acts 2012, c. 712, § 1, eff. July 1, 2012; Acts 2016, c. 25, § 2, eff. Oct. 1, 2016; Acts 2021, c. 15, § 1, eff. March 13, 2021.
MD Code, Education, § 13-104, MD EDUC § 13-104
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document