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<section article="gec" article_name="Economic Development" number="10-144" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="1" subtitle_name="Maryland Economic Development Corporation">
  <level label="a">
    <text>There is a Regional Institution Strategic Enterprise Fund in the Corporation.</text>
  </level>
  <level label="b">
    <text>The Executive Director of the Corporation shall manage and supervise the Fund.</text>
  </level>
  <level label="c">
    <level label="1">
      <text>The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.</text>
    </level>
    <level label="2">
      <text>The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
    </level>
  </level>
  <level label="d">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>money appropriated in the State budget to the Fund; and</text>
    </level>
    <level label="2">
      <text>any other money from any other source accepted for the benefit of the Fund.</text>
    </level>
  </level>
  <level label="e">
    <text>The Corporation may use the Fund to:</text>
    <level label="1">
      <text>finance, in coordination with qualified institutions, counties, and municipal corporations, the provision of rental assistance to business entities located in RISE zones; and</text>
    </level>
    <level label="2">
      <text>pay the related administrative, legal, and actuarial expenses of the Corporation.</text>
    </level>
  </level>
  <level label="f">
    <level label="1">
      <text>The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.</text>
    </level>
    <level label="2">
      <text>Any investment earnings of the Fund shall be credited to the Fund.</text>
    </level>
  </level>
  <level label="g">
    <text>Expenditures from the Fund may be made only in accordance with the State budget.</text>
  </level>
</section>
