Md. Code Ann., Health-Gen. § 24-1702
Maryland Loan Assistance Repayment Program Fund
Effective Apr 11, 2023Added as Education § 18-2802 by Acts 2009, c. 575, § 1, eff. July 1, 2009; Acts 2009, c. 576, § 1, eff. July 1, 2009. Transferred to Health--General § 24-1702 by Acts 2020, c. 402, § 1, eff. July 1, 2020, Acts 2020, c. 403, § 1, eff. July 1, 2020. Amended by Acts 2020, c. 402, § 2, eff. July 1, 2020; Acts 2020, c. 403, § 2, eff. July 1, 2020; Acts 2023, c. 49, § 2, eff. April 11, 2023.State of Maryland
(a)
- (1) There is a Maryland Loan Assistance Repayment Program Fund in the State.
- (2) The Fund is a continuing, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
- (3) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
- (4) The Fund shall be invested and reinvested in the same manner as other State funds.
- (5) Any investment earnings of the Fund shall be paid into the Fund.
(b) The Fund consists of:
- (1) Revenue generated through a permanent funding structure recommended to the General Assembly by a stakeholder workgroup convened by the Department; and
- (2) Any other money from any other source accepted for the benefit of the Fund.
- (c) Expenditures from the Fund shall be made by an appropriation in the annual State budget or by an approved budget amendment as provided under § 7-209 of the State Finance and Procurement Article.
- (d) The money in the Fund shall be used by the Department to administer the Program.
Added as Education § 18-2802 by Acts 2009, c. 575, § 1, eff. July 1, 2009; Acts 2009, c. 576, § 1, eff. July 1, 2009. Transferred to Health--General § 24-1702 by Acts 2020, c. 402, § 1, eff. July 1, 2020, Acts 2020, c. 403, § 1, eff. July 1, 2020. Amended by Acts 2020, c. 402, § 2, eff. July 1, 2020; Acts 2020, c. 403, § 2, eff. July 1, 2020; Acts 2023, c. 49, § 2, eff. April 11, 2023.