Section 1-702 - State Chesapeake Bay and Endangered Species Fund. - Maryland Statutes

§ 1-702. State Chesapeake Bay and Endangered Species Fund.
 

(a)  "Fund" defined.- In this section, "Fund" means the State Chesapeake Bay and Endangered Species Fund. 

(b)  Established.- There is a State Chesapeake Bay and Endangered Species Fund. 

(c)  Credits to Fund; administration; uses.-  

(1) The net proceeds from contributions under the income tax checkoff system and any other donations to the Fund shall be credited to the Fund. 

(2) The Secretary shall administer the Fund. 

(3) The Fund shall be used only as provided in §§ 1-703 through 1-705 of this subtitle. 

(4) The Treasurer shall hold the Fund separately and the Comptroller shall account for the Fund. 

(5) The Treasurer shall invest the money of the Fund in the same manner as other State money may be invested. 

(6) Any investment earnings of the Fund shall be credited to the General Fund of the State. 

(7) Expenditures from the Fund may be made only in accordance with the State budget. 

(d)  Purposes.- The Fund shall be maintained for the purposes stated in this subtitle and unspent portions of the Fund shall remain in the Fund and may not revert to the General Fund of the State. 

(e)  Expenditures supplemental.- Moneys expended from the Fund for the Chesapeake Bay Trust and Endangered Species Conservation programs are supplemental and are not intended to take the place of funding that would otherwise be appropriated to the Department of Natural Resources for the Trust or for those programs. 
 

[1988, ch. 583; 2004, chs. 472, 550.]