(a) (1) In this section the following words have the meanings indicated. (2) "Bus rapid transit system" means a bus line that operates on at least some portion of roadway dedicated to buses and offers off-board fare collection or another form of high efficiency fare collection if a fare is charged. (3) "Eligible grantee" means a county or municipal corporation that has: (i) A bus rapid transit system that operates in the county or municipal corporation; and (ii) No ongoing or completed facility, as that term is defined in § 10-601(s)(1), (4), (9), (10), or (11) of the Economic Development Article. (b) (1) Subject to paragraph (2) of this subsection, when a deposit or payment is made in accordance with § 9-120(b)(1)(xi) of the State Government Article into the Bus Rapid Transit Fund established under § 2-802.1 of this subtitle, and there is only one eligible grantee, then the Department shall award a grant to the eligible grantee equal to the amount distributed to the Department under § 9- 120(b)(1)(xi) of the State Government Article. (2) (i) If there are two eligible grantees, and one eligible grantee is Montgomery County, the Department shall distribute $25,000,000 to Montgomery County and the remaining amount of the deposit or payment under § 9-120(b)(1)(xi) of the State Government Article to the remaining eligible grantee. (ii) If more than three counties or municipal corporations are eligible grantees, and one eligible grantee is Montgomery County, then the Department shall distribute: 1. Not less than $20,000,000 to Montgomery County if Montgomery County remains an eligible county; and 2. The total remaining amount of the deposit or payment under § 9-120(b)(1)(xi) of the State Government Article to the remaining eligible grantees based on each eligible grantee's pro rata share of the statewide population. (iii) If Montgomery County is not an eligible grantee, and more than one county or municipal corporation are eligible grantees, then the Department shall distribute the total amount of the deposit payment under § 9-120(b)(1)(xi) of the State Government Article to the eligible grantees based on each eligible grantee's pro rata share of the statewide population. (3) (i) Eligible grantees receiving funds in accordance with this subsection and § 2-802.1 of this subtitle may use the grant funds for the: 1. Financing and refinancing of the costs related to the construction, acquisition, improvement, equipping, rehabilitation, and expansion of bus rapid transit system projects; 2. Payment of debt service on bonds issued to finance bus rapid transit system projects; 3. Payment of all reasonable expenses and charges related to bond issuance and borrowing; and 4. Payment of costs relating to the management and operation of bus rapid transit system projects. (ii) If an eligible grantee uses funds under this section for the payment of debt service on bonds issued to finance bus rapid transit system projects, the eligible grantee shall issue bonds in accordance with an ordinance or resolution which may specify all matters relating to the advertisement, sale, issuance, delivery, and payment of the bonds, including: 1. The forms, dates, and denominations of the bonds; 2. The principal maturities; 3. The methods to be used in determining interest payable on the bonds; and 4. Any provisions for registration, redemption before stated maturity, or the use of facsimile signatures or seals. (c) The Department: (1) Shall distribute grants under this section to eligible grantees in a timely manner; and (2) May not impose any additional conditions on an eligible grantee on receipt of a grant under this section.
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