§ 20-1406. Health Enterprise Zone Reserve Fund [Subtitle subject to abrogation].

   (a) Fund created. -- There is a Health Enterprise Zone Reserve Fund.

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

(c) Investments. --

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

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

(d) Use of money in Fund. -- The money in the Fund shall be used for:

   (1) Any activity authorized under this subtitle; and

   (2) The State income tax credit authorized under § 10-731 of the Tax - General Article.

(e) Administration of Fund. -- The Commission shall administer the Fund and provide funding in accordance with the designation by the Secretary of a Health Enterprise Zone under this subtitle.

HISTORY: 2012, ch. 3, § 1.