§ 31-107. Maryland Health Benefit Exchange Fund
West's Annotated Code of MarylandInsuranceEffective: July 1, 2023 to June 30, 2026
Effective: July 1, 2023 to June 30, 2026
MD Code, Insurance, § 31-107
§ 31-107. Maryland Health Benefit Exchange Fund
<Section effective until July 1, 2026. See, also, section 31-107 effective July 1, 2026.>
(a) There is a Maryland Health Benefit Exchange Fund.
(b)(1) The purpose of the Fund is to:
(d)(1) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
(e) The Fund consists of:
(f)(1) The Fund may be used only:
Separate accounts for Exchange operations, State Reinsurance Program, and State-Based Young Adult Health Insurance Subsidies Pilot Program
(g)(1) The Board shall maintain separate accounts within the Fund for Exchange operations, for the State Reinsurance Program, and for the State-Based Young Adult Health Insurance Subsidies Pilot Program.
(h)(1) Expenditures from the Fund for the purposes authorized by this subtitle may be made only:
(2) Notwithstanding § 7-304 of the State Finance and Procurement Article, if the amount of the distribution from the premium tax under § 6-103.2 of this article exceeds in any State fiscal year the actual expenditures incurred for the operation and administration of the Exchange, funds in the Exchange operations account from the premium tax that remain unspent at the end of the State fiscal year shall revert to the General Fund of the State.
(i)(1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
Credits
Added by Acts 2011, c. 1, § 1, eff. June 1, 2011; Acts 2011, c. 2, § 1, eff. June 1, 2011. Amended by Acts 2013, c. 159, § 2, eff. June 1, 2013; Acts 2016, c. 321, § 3, eff. July 1, 2016; Acts 2018, c. 6, § 2, eff. April 5, 2018; Acts 2018, c. 7, § 2, eff. April 5, 2018; Acts 2019, c. 401, § 1, eff. July 1, 2019; Acts 2020, c. 628, § 1, eff. May 8, 2020; Acts 2021, c. 150, § 2, eff. June 1, 2021; Acts 2021, c. 741, § 2, eff. May 30, 2021; Acts 2021, c. 742, § 2, eff. May 30, 2021; Acts 2021, c. 777, § 1, eff. July 1, 2021; Acts 2021, c. 778, § 1, eff. July 1, 2021; Acts 2022, c. 59, § 1, eff. Oct. 1, 2022; Acts 2023, c. 256, § 1, eff. July 1, 2023; Acts 2023, c. 257, § 1, eff. July 1, 2023.
MD Code, Insurance, § 31-107, MD INSURANCE § 31-107
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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