1. (a) In this section, “Fund” means the Fisheries Research and Development Fund.
2. (b) There is a Fisheries Research and Development Fund in the Department.

3. (c) The purpose of the Fund is to:

   1. (1) Finance the replenishment of fisheries resources and related research; and
   2. (2) Match federal funds available for research and development of fisheries resources.
4. (d) The Department shall administer the Fund.

5. (e)

   1. (1) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
   2. (2) The Treasurer shall hold the Fund separately and the Comptroller shall account for the Fund.

6. (f) The Fund consists of:

   1. (1) Any money received under this title for:

      1. (i) Commercial licenses and permits;
      2. (ii) Service fees, taxes, and royalties paid to the State for oyster shells and clam shells removed from the bottom beneath the tidal waters of the State;
      3. (iii) The sale of seed oysters under § 4-1103 of this title; and
      4. (iv) Any fine or forfeiture collected under § 4-1202 of this title;
   2. (2) Any investment earnings of the Fund;
   3. (3) Money received from any other source; and
   4. (4) Money appropriated from the General Fund of the State in accordance with subsection (j) of this section.

7. (g) Subject to §§ 4-701(q), 4-1020, 4-1028, and 4-1035 of this title, the Fund may be used only for:

   1. (1) Replenishing fisheries resources and related research;
   2. (2) Matching federal funds available for research and development of fisheries resources; and
   3. (3) Administrative costs calculated in accordance with § 1-103(b)(2) of this article.

8. (h)

   1. (1) The Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
   2. (2) Any investment earnings of the Fund may not be transferred or revert to the General Fund of the State, but shall remain in the Fund.
9. (i) Expenditures from the Fund may be made only in accordance with the State budget.
10. (j) Beginning with fiscal year 2009 and each fiscal year thereafter, the Governor may include in the budget bill an appropriation from the General Fund for the Fund.

11. (k)

    1. (1) For fiscal years 2023 and 2024, the Governor shall include in the annual budget bill a General Fund appropriation to the Fisheries Research and Development Fund of not less than $1,794,000.
    2. (2) Beginning in fiscal year 2026 and each fiscal year thereafter, the Governor shall include in the annual budget bill a General Fund appropriation to the Fisheries Research and Development Fund of not less than $1,794,000.

Added by Acts 1973, 1st Sp. Sess., c. 4, § 1, eff. Jan. 1, 1974. Amended by Acts 1974, c. 83; Acts 1977, c. 784, § 5; Acts 1982, c. 344; Acts 1982, c. 345; Acts 1982, c. 346; Acts 1989, c. 817; Acts 1990, c. 462; Acts 2004, c. 472, § 1, eff. Oct. 1, 2004; Acts 2004, c. 550, § 1, eff. July 1, 2004; Acts 2005, c. 25, § 1, eff. April 12, 2005; Acts 2007, c. 217, § 1, eff. July 1, 2007; Acts 2007, 1st Sp. Sess., c. 6, § 5, eff. July 1, 2008; Acts 2012, c. 435, § 4, eff. July 1, 2012; Acts 2013, c. 519, § 3, eff. July 1, 2013; Acts 2016, c. 117, § 1, eff. June 1, 2016; Acts 2021, c. 150, § 2, eff. June 1, 2021; Acts 2024, c. 717, § 1, eff. June 1, 2024.

Formerly Art. 66C, § 716.