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§ 1-703. Allocation of proceeds

West's Annotated Code of MarylandNatural ResourcesEffective: April 13, 2010

West's Annotated Code of Maryland
Natural Resources
Title 1. Department of Natural Resources (Refs & Annos)
Subtitle 7. State Chesapeake Bay and Endangered Species Fund (Refs & Annos)
Effective: April 13, 2010
MD Code, Natural Resources, § 1-703
§ 1-703. Allocation of proceeds
Currentness
Promotions, administrative costs
(a)(1) The Secretary may distribute not more than 5% of the net proceeds of the Fund to a promotional account to be used to promote further donations to the Fund.
(2) Money in the Fund may be used for administrative costs calculated in accordance with § 1-103(b)(2) of this title.
Chesapeake Bay Trust, endangered species accounts
(b) After making the distributions allowed under subsection (a) of this section, the Secretary shall distribute the remainder of the net proceeds of the Fund as follows:
(1) 50% to the Chesapeake Bay Trust established under § 8-1902 of this article, to be used by the Trust only as provided in § 1-704 of this subtitle; and
(2) 50% to an endangered species account, to be used only to conserve nongame, threatened and endangered species as provided in § 1-705 of this subtitle.

Credits

Added by Acts 1988, c. 583, § 1, eff. Jan. 1, 1989. Amended by Acts 2004, c. 472, § 1, eff. Oct. 1, 2004; Acts 2010, c. 72, § 5, eff. April 13, 2010.
MD Code, Natural Resources, § 1-703, MD NAT RES § 1-703
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.
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