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§ 10-4D-02. Human-Relevant Research Fund

West's Annotated Code of MarylandEconomic DevelopmentEffective: July 1, 2023

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 4d. Human-Relevant Research Fund and Program (Refs & Annos)
Effective: July 1, 2023
MD Code, Economic Development, § 10-4D-02
§ 10-4D-02. Human-Relevant Research Fund
Currentness
Establishment
(a) There is a Human-Relevant Research Fund.
Purpose
(b) The purpose of the Fund is to promote State-funded research intended to develop human-relevant alternatives to using nonhuman animals in medical and product testing and research through grants and loans to public and private entities in the State.
Administration
(c) The Corporation shall administer the Fund.
Nature of Fund
(d)(1) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
(2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
Contents
(e) The Fund consists of:
(1) revenue distributed to the Fund under § 24-2302 of the Health--General Article;
(2) money appropriated in the State budget to the Fund;
(3) interest earnings of the Fund; and
(4) any other money from any other source accepted for the benefit of the Fund.
Uses
(f) Money in the Fund may be used only to:
(1) award grants and loans for State-funded, human-relevant animal testing alternatives research in accordance with the recommendations of the Board; and
(2) pay the costs necessary to administer the Fund.
Investments
(g)(1) The State Treasurer shall invest the money in the Fund in the same manner as other State money may be invested.
(2) Any interest earnings of the Fund shall be credited to the Fund.
Budget
(h)(1) The Governor may include in the State budget bill each fiscal year an appropriation to the Fund.
(2) Expenditures from the Fund may be made only in accordance with the State budget.

Credits

Added by Acts 2023, c. 447, § 1, eff. July 1, 2023; Acts 2023, c. 448, § 1, eff. July 1, 2023. Amended by Acts 2023, c. 49, § 6.
MD Code, Economic Development, § 10-4D-02, MD ECON DEV § 10-4D-02
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