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Maryland Code, Economic Development § 10-611.2

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) In this section, “Fund” means the Major Sports and Entertainment Event Program Fund.

(b) There is a Major Sports and Entertainment Event Program Fund.

(c)(1) The Major Sports and Entertainment Event Program Fund is a continuing, nonlapsing fund that shall be available to implement the Major Sports and Entertainment Event Program established under § 10-611.1 of this subtitle.

(2)(i) The Authority shall:

1. use the Fund as a revolving fund for carrying out the provisions of § 10-611.1 of this subtitle; and

2. pay expenses from the Fund related to the Major Sports and Entertainment Event Program established under § 10-611.1 of this subtitle.

(ii) The Authority may use the Fund to pay administrative and operating costs of the Program including costs to market and advertise the Program.

(d) The Fund consists of:

(1) money distributed to the Fund under § 9-120(b)(1)(ix) of the State Government Article;

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

(3) any interest earnings of the Fund; and

(4) any additional money made available from any public source for the purposes established for the Fund.

(e)(1) The State Treasurer shall invest the money of the Fund in the same manner as other State funds.

(2) Any investment earnings shall be credited to the Fund.

(3) No part of the Fund may revert or be credited to the General Fund or any special fund of the State.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 10-611.2 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-10-611-2/

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