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§ 11-1302. Construction Education and Innovation Fund

West's Annotated Code of MarylandLabor and EmploymentEffective: July 1, 2023

West's Annotated Code of Maryland
Labor and Employment
Title 11. Division of Employment and Training (Refs & Annos)
Subtitle 13. Construction Education and Innovation Fund (Refs & Annos)
Effective: July 1, 2023
MD Code, Labor and Employment, § 11-1302
§ 11-1302. Construction Education and Innovation Fund
Currentness
In general
(a) There is a Construction Education and Innovation Fund.
Administration of Fund
(b) The Center shall administer the Fund.
Nature of Fund
(c)(1) The Fund is a special, nonlapsing revolving fund that is not subject to § 7-302 of the State Finance and Procurement Article.
(2) The Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
Contents of Fund
(d) The Fund consists of:
(1) money appropriated in the State budget to the Fund;
(2) money made available to the Fund through federal programs or private contributions;
(3) money derived by the Center; or
(4) any other money made available to the Center for the Fund.
Appropriation to Fund from annual State budget
(e)(1) For fiscal year 2018 through fiscal year 2024, the Governor shall include in the annual budget bill an appropriation to the Fund of $250,000 to support the operation of the Center.
(2) For fiscal year 2025 through fiscal year 2029, the Governor shall include in the annual budget bill an appropriation to the Fund of $625,000 to support the operation of the Center.
Use of Fund
(f) The Fund may be used only to support the purposes of the Center.
Investment of Fund moneys
(g)(1) The Treasurer shall invest money in the Fund in the same manner as other State money may be invested.
(2) Any investment earnings of the Fund shall be paid into the Fund.

Credits

Added by Acts 2016, c. 34, § 1, eff. Oct. 1, 2016. Amended by Acts 2023, c. 493, § 1, eff. July 1, 2023.
MD Code, Labor and Employment, § 11-1302, MD LABOR & EMPLY § 11-1302
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.
End of Document