(a) (1) In this section the following words have the meanings indicated. (2) "Bed lease payments" means a daily rate paid by the contractor that operates the Charlotte Hall Veterans Home to the State in lease payments based on the total number of beds, regardless of whether all of the beds are filled. (3) "Fund" means the Charlotte Hall Veterans Home Fund. (b) There is a Charlotte Hall Veterans Home Fund. (c) The purpose of the Fund is to maintain the operation of the Charlotte Hall Veterans Home. (d) The Secretary shall administer the Fund. (e) (1) (i) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article. (ii) Except as provided in subparagraph (iii) of this paragraph, any unspent portions of the Fund may not be transferred to or revert to the General Fund of the State. (iii) If, after deducting all expenses authorized under subsection (g) of this section, the remaining balance of the revenue to the Department from bed lease payments at the end of a fiscal year is greater than 10% of the total budget of the Charlotte Hall Veterans Home for that fiscal year, the amount of the remaining balance that is in excess of 10% of the total budget shall revert to the General Fund of the State. (2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund. (f) The Fund consists of bed lease payments. (g) The Fund may be used only for: (1) the salaries and benefits of the departmental staff of the Charlotte Hall Veterans Home; (2) improvements to the Charlotte Hall Veterans Home; and (3) any other operating expenses of the Charlotte Hall Veterans Home. (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 General Fund of the State. (i) Expenditures from the Fund may be made only in accordance with the State budget. (j) Money expended from the Fund for the Charlotte Hall Veterans Home is supplemental to, and is not intended to take the place of, funding that otherwise would be appropriated for the Charlotte Hall Veterans Home. (k) The Office of Legislative Audits shall audit the accounts and transactions of the Fund as provided in § 2-1220 of this article.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.