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§ 8-723. State Boat Act Fund

West's Annotated Code of MarylandNatural Resources

West's Annotated Code of Maryland
Natural Resources
Title 8. Waters (Refs & Annos)
Subtitle 7. State Boat Act (Refs & Annos)
MD Code, Natural Resources, § 8-723
§ 8-723. State Boat Act Fund
Currentness
Fund defined
(a) In this section, “Fund” means the State Boat Act Fund.
In general
(b) There is a State Boat Act Fund in the Department.
Administration
(c) The Secretary shall administer the Fund.
Nature of Fund
(d)(1) The Treasurer shall hold the Fund separately and the Comptroller shall account for the Fund.
(2) The Fund shall be invested and reinvested in the same manner as other State funds.
(3) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
Contents of Fund
(e) Unless otherwise provided, the Fund consists of:
(1) Moneys received from any fee and other revenue the Department collects under authority of this subtitle;
(2) Moneys appropriated in the State budget to the Fund; and
(3) Any moneys received and accepted as gifts, contributions, or grants.
Use of Fund
(f) The Department shall use the Fund:
(1) For the administration of this subtitle;
(2) To cover the costs of fulfilling the duties and responsibilities of the Department under this title; and
(3) For administrative costs calculated in accordance with § 1-103(b)(2) of this article.
Investment earnings credited to General Fund
(g) Any investment earnings of the Fund shall be credited to the General Fund of the State.
Agreements with federal government, municipalities, or other political subdivisions
(h) Within the limits of funds available, the Department may enter into any agreement with the federal government, any municipality or other political subdivision of the State, or any private agency to share the cost of any development, construction, or improvement of waterways or of facilities determined to have beneficial value to the boating public.
Expenditures in accordance with State budget
(i) Expenditures from the Fund may be made only in accordance with the State budget.

Credits

Added by Acts 1973, 1st Sp. Sess., c. 4, § 1, eff. Jan. 1, 1974. Amended by Acts 1990, c. 6, § 2; Acts 1991, c. 55, § 1; Acts 1993, c. 22, § 1; Acts 1995, c. 3, § 1, eff. March 7, 1995; Acts 1997, c. 743, § 1, eff. Oct. 1, 1997; Acts 2004, c. 460, § 1, eff. July 1, 2005; Acts 2004, c. 472, § 1, eff. Oct. 1, 2004; Acts 2004, c. 550, § 1, eff. July 1, 2004; Acts 2005, c. 25, § 1, eff. April 12, 2005.
Formerly Art. 14B, § 7.
MD Code, Natural Resources, § 8-723, MD NAT RES § 8-723
Current with legislation effective through June 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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