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§ 10-611.2. Major Sports and Entertainment Event Program Fund

West's Annotated Code of MarylandEconomic DevelopmentEffective: June 1, 2022

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 10. Statewide Development Resources and Revenue Authorities (Refs & Annos)
Subtitle 6. Maryland Stadium Authority (Refs & Annos)
Part II. Stadium Authority (Refs & Annos)
Effective: June 1, 2022
MD Code, Economic Development, § 10-611.2
§ 10-611.2. Major Sports and Entertainment Event Program Fund
Currentness
“Fund” defined
(a) In this section, “Fund” means the Major Sports and Entertainment Event Program Fund.
Established
(b) There is a Major Sports and Entertainment Event Program Fund.
Nature of Fund; expenditures
(c)(1) The Major Sports and Entertainment Event Program Fund is a continuing, nonlapsing fund that shall be available to implement the Major Sports and Entertainment Event Program established under § 10-611.1 of this subtitle.
(2)(i) The Authority shall:
1. use the Fund as a revolving fund for carrying out the provisions of § 10-611.1 of this subtitle; and
2. pay expenses from the Fund related to the Major Sports and Entertainment Event Program established under § 10-611.1 of this subtitle.
(ii) The Authority may use the Fund to pay administrative and operating costs of the Program including costs to market and advertise the Program.
Contents of Fund
(d) The Fund consists of:
(1) money distributed to the Fund under § 9-120(b)(1)(ix) of the State Government Article;
(2) money appropriated in the State budget to the Fund;
(3) any interest earnings of the Fund; and
(4) any additional money made available from any public source for the purposes established for the Fund.
Investment of Fund moneys
(e)(1) The State Treasurer shall invest the money of the Fund in the same manner as other State funds.
(2) Any investment earnings shall be credited to the Fund.
(3) No part of the Fund may revert or be credited to the General Fund or any special fund of the State.

Credits

Added by Acts 2022, c. 61, § 2, eff. June 1, 2022.
MD Code, Economic Development, § 10-611.2, MD ECON DEV § 10-611.2
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document