§ 10-405. Continuing Care Fund

   (a) "Fund" defined. -- In this section, "Fund" means the Continuing Care Fund.

(b) Established. -- There is a Continuing Care Fund.

(c) Purpose. -- The purpose of the Fund is to defray the costs of administering this subtitle.

(d) Administration. -- The Department of Aging shall administer the Fund.

(e) Status; management. --

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

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

(f) Composition. -- The Fund consists of:

   (1) all fees collected under this subtitle;

   (2) money appropriated in the State budget to the Fund;

   (3) investment earnings of the Fund; and

   (4) any other money from any other source accepted for the benefit of the Fund.

(g) Use of Fund. -- The Fund may be used only for the purposes specified in this subtitle.

(h) Investments; earnings. --

   (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 paid into the Fund.

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

(j) Expenditures supplemental to administration funding. -- Money expended from the Fund for administering this subtitle is supplemental to and is not intended to take the place of funding that otherwise would be appropriated for administering this subtitle.

HISTORY: 2007, ch. 108, § 2.