§ 9-913. Maryland Veterans Trust Fund

   (a) Definitions. -- In this subtitle the following words have the meanings indicated.

(b) Board. -- "Board" means the Board of Trustees of the Maryland Veterans Trust.

(c) Fund. -- "Fund" means the Maryland Veterans Trust Fund.

(d) Trust. -- "Trust" means the Maryland Veterans Trust.

(e) Maryland Veterans Trust and Maryland Veterans Trust Fund established. --

   (1) There is a Maryland Veterans Trust established for the purpose of providing monetary and other assistance to:

      (i) veterans and their families; and

      (ii) public and private programs that support veterans and their families.

   (2) There is a Maryland Veterans Trust Fund.

(f) Status of Trust. -- The Trust shall be a body corporate and shall have perpetual existence, subject to modification or termination by the General Assembly if necessary to effectuate its purpose or if its substantial purpose ceases to exist.

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

   (1) gifts and grants that the Trust receives under § 9-914.2(a)(1) of this subtitle; and

   (2) contributions to the Fund from the sale of tickets from instant ticket lottery machines under § 9-112(d) of this title.

(h) Use of monies. -- Money in the Fund may only be used to:

   (1) make grants and loans under § 9-914.2(a)(3) of this subtitle;

   (2) be invested under § 9-914.3(b) of this subtitle; and

   (3) pay the costs of administering the Fund through distribution to an administrative cost account in the Department.

(i) Money expended not intended to take place of other funding. -- Money expended from the Fund is not intended to take the place of funding that would otherwise be appropriated to the Department.

HISTORY: 2009, ch. 742; 2012 2nd Sp. Sess., ch. 1; 2013, ch. 681, § 1.