§ 18-310. Educational Excellence Fund

   (a) Funding. -- Funds for the Delegate Howard P. Rawlings Educational Excellence Award Program shall be as provided in the annual budget of the Commission by the Governor.

(b) Established; annual report. --

   (1) In this section, "Fund" means the Educational Excellence Fund.

   (2) There is an Educational Excellence Fund in the Commission.

   (3) The Commission shall administer the Fund.

   (4) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.

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

   (6) The Commission:

      (i) May accept any gift or grant from any person or corporation for the Fund;

      (ii) Shall use any gift or grant that it receives to support an early intervention program to identify students eligible for the Delegate Howard P. Rawlings Educational Excellence Award Program and prepare them for college; and

      (iii) Shall deposit any gift or grant that it receives for the Fund with the State Treasurer for use only in the early intervention program.

   (7) (i) At the end of the fiscal year, the Commission shall prepare an annual report on the Fund that includes an accounting of all financial receipts and expenditures to and from the Fund.

      (ii) The Commission shall submit a copy of the report to the General Assembly as provided under § 2-1246 of the State Government Article.

HISTORY: 1991, ch. 462, § 3; 1996, ch. 10, § 16; 1997, ch. 635, § 9; ch. 636, § 9; 2007, ch. 491, § 2; 2013, ch. 172.