(a) In this section, "Fund" means the Blueprint for Maryland's Future Fund. (b) There is the Blueprint for Maryland's Future Fund. (c) The purpose of the Fund is to assist in providing adequate funding for early childhood education and primary and secondary education to provide a world- class education to students so they are prepared for college and a career in the global economy of the 21st century, based on the recommendations of the Commission on Innovation and Excellence in Education. (d) The Department shall administer the Fund. (e) (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) The Fund consists of: (1) Revenue distributed to the Fund under Title 9, Subtitles 1D and 1E of the State Government Article and §§ 2-4A-02, 2-605.1, and 2-1303 of the Tax - General Article; (2) Money appropriated in the State budget for the Fund; (3) Interest earned by the Academic Excellence Fund established under § 6-1105 of this article; and (4) Any other money from any other source accepted for the benefit of the Fund. (g) (1) The Fund may be used only to assist in providing adequate funding for: (i) Early childhood education, primary and secondary education, and other programs, based on the recommendations of the Commission on Innovation and Excellence in Education, including revised education funding formulas; (ii) Maryland prekindergarten expansion grants; and (iii) Early childhood education, primary and secondary education, and other programs for costs associated with the Coronavirus Disease 2019 (COVID-19), including: 1. One-time primary and secondary education aid grants provided in fiscal year 2022 to: A. Address enrollment declines related to the COVID- 19 pandemic; and B. Ensure that every county board receives an increase in State education aid over the amount of State education aid the county board received in fiscal year 2021; and 2. Grants provided in fiscal years 2021 and 2022 for: A. Summer school programs, tutoring, and other supplemental instruction programs to address student learning loss; B. Identification of and support for students dealing with trauma or behavioral health issues; and C. Schools to safely reopen for in-person instruction. (2) (i) The Fund may not be used for school construction under Subtitle 3 of this title. (ii) The Fund may not be used to fund the Academic Excellence Program established under Title 6, Subtitle 11 of this article. (h) (1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested. (2) Any interest earnings of the Fund shall be credited to the Fund. (i) Expenditures from the Fund may be made only in accordance with the State budget.
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