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<section article="gec" article_name="Economic Development" number="10-448" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="4" subtitle_name="Maryland Technology Development Corporation">
  <level label="a">
    <text>There is a Coordinating Emerging Nanobiotechnology Research in Maryland Fund in the Corporation.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>The Fund is a special, nonlapsing fund that is not subject to reversion under § 7–302 of the State Finance and Procurement Article.</text>
    </level>
    <level label="2">
      <text>The Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
    </level>
  </level>
  <level label="c">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>appropriations as provided in the State budget; and</text>
    </level>
    <level label="2">
      <text>any other money from any other source accepted for the benefit of the CENTR Maryland Program.</text>
    </level>
  </level>
  <level label="d">
    <text>The Chief Executive Officer of the Corporation, or the Chief Executive Officer’s designee, shall administer the Fund in accordance with this part and other applicable law.</text>
  </level>
  <level label="e">
    <text>The Fund shall be used to cover the costs of the Program, including any grants that are awarded to eligible recipients.</text>
  </level>
  <level label="f">
    <level label="1">
      <text>The 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>The Legislative Auditor shall audit the accounts and transactions of the Fund as provided in § 2–1220 of the State Government Article.</text>
  </level>
</section>
