<?xml version='1.0' encoding='utf-8'?>
<section article="gec" article_name="Economic Development" number="10-612.2" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="6" subtitle_name="Maryland Stadium Authority">
  <text>** IN EFFECT UNTIL JULY 1, 2027 PER CHAPTER 376 OF 2026 **</text>
  <level label="a">
    <text>In this section, “Fund” means the Michael Erin Busch Sports Fund.</text>
  </level>
  <level label="b">
    <text>There is a Michael Erin Busch Sports Fund.</text>
  </level>
  <level label="c">
    <text>The purpose of the Fund is to provide funding for the Youth and Amateur Sports Grants Program established under § 10–612.1 of this subtitle.</text>
  </level>
  <level label="d">
    <text>The Authority shall administer the Fund.</text>
  </level>
  <level label="e">
    <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="f">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>revenue distributed to the Fund under § 9–120(b)(1)(iv) of the State Government Article;</text>
    </level>
    <level label="2">
      <text>money appropriated in the State budget to the Fund;</text>
    </level>
    <level label="3">
      <text>interest earnings or other income earned from the investment of any money in the Fund; and</text>
    </level>
    <level label="4">
      <text>any other money from any other source accepted for the benefit of the Fund.</text>
    </level>
  </level>
  <level label="g">
    <text>The Fund may be used only to:</text>
    <level label="1">
      <text>make grants under the Youth and Amateur Sports Grants Program; and</text>
    </level>
    <level label="2">
      <text>pay the costs necessary to administer and operate the Youth and Amateur Sports Grants Program, including marketing and advertising costs.</text>
    </level>
  </level>
  <level label="h">
    <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 interest earnings of the Fund shall be credited to the Fund.</text>
    </level>
  </level>
  <level label="i">
    <text>Expenditures from the Fund may be made only in accordance with the State budget.</text>
  </level>
</section>
