§ 2-207. Rural Maryland Prosperity Investment Fund
West's Annotated Code of MarylandState Finance and ProcurementEffective: October 1, 2023
Effective: October 1, 2023
MD Code, State Finance and Procurement, § 2-207
§ 2-207. Rural Maryland Prosperity Investment Fund
(b) The General Assembly finds that:
(1) many rural communities in the State face a host of difficult challenges relating to persistent unemployment and poverty, changing technological and economic conditions, an aging population and an out-migration of youth, inadequate access to quality housing, health care and other services, and deteriorating or inadequate transportation, communications, sanitation, and economic development infrastructure;
(2) Maryland's agricultural and resource-based industries continue to underpin the local economies of rural communities but are increasingly under threat from national and international market competition, urban encroachment and land development pressure, and environmental and regulatory influences;
(3) local governments, regional organizations, educational institutions, and private sector service providers have been unable to meet all the economic development, community development, health care, and human services needs of Maryland residents in the rural counties and municipal corporations because of a lack of adequate available capacity and resources;
(3) The purpose of the Fund is to provide funding to rural regional and statewide planning and development organizations, institutions of higher education serving rural communities, rural community development organizations, and local governments acting in partnership with one another to promote the quality of life in rural areas.
(d) Each year, beginning in fiscal year 2008 and continuing through fiscal year 2030, the Governor may include an appropriation in the budget bill for the Fund.
(e)(1) The Fund is a special, nonlapsing fund that is not subject to reversion under § 7-302 of this article.
(f)(1) Except as provided in paragraph (2) of this subsection, disbursements of money appropriated to the Fund shall be allocated in the following manner:
(g)(1) Any money received by a regional council under subsection (f)(1)(i) of this section shall be used to benefit rural areas as the regional council determines.
(h) The Board may reallocate money from one category listed in subsection (f)(1)(ii) of this section to another category only if there is a lack of sufficient applications requesting use of money in a particular category.
(i)(1) On or before October 1 of each year, the Council shall submit a report to the Governor and, in accordance with § 2-1257 of the State Government Article, the General Assembly.
Credits
Added by Acts 2006, c. 621, § 1, eff. July 1, 2006. Amended by Acts 2006, c. 44, § 6, eff. April 8, 2006; Acts 2008, c. 307, § 1, eff. Oct. 1, 2008; Acts 2014, c. 469, § 1, eff. July 1, 2014; Acts 2014, c. 470, § 1, eff. July 1, 2014; Acts 2019, c. 8, § 5; Acts 2023, c. 439, § 1, eff. Oct. 1, 2023.
MD Code, State Finance and Procurement, § 2-207, MD STATE FIN & PROC § 2-207
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.
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