<?xml version='1.0' encoding='utf-8'?>
<section article="gec" article_name="Economic Development" number="2.5-304" effective_note="EFFECTIVE UNTIL JUNE 30, 2031 PER CHAPTERS 377 AND 378 OF 2026" title_number="2.5" title_name="Department of Commerce" subtitle_number="3">
  <level label="a">
    <text>There is a Maryland’s Future Fund.</text>
  </level>
  <level label="b">
    <text>The purpose of the Fund is to fund the projects recommended by the Board made under § 2.5–303 of this subtitle.</text>
  </level>
  <level label="c">
    <text>The Department shall administer the Fund.</text>
  </level>
  <level label="d">
    <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="e">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>money appropriated in the State budget to the Fund;</text>
    </level>
    <level label="2">
      <text>interest earnings; and</text>
    </level>
    <level label="3">
      <text>any other money from any other source accepted for the benefit of the Fund.</text>
    </level>
  </level>
  <level label="f">
    <text>The Fund may be used only for projects recommended by the Board under § 2.5–303 of this subtitle.</text>
  </level>
  <level label="g">
    <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="h">
    <text>Expenditures from the Fund may be made only in accordance with the State budget.</text>
  </level>
  <level label="i">
    <text>Money expended from the Fund is supplemental to and is not intended to take the place of funding that otherwise would be appropriated for the same purpose.</text>
  </level>
</section>
