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<section article="gec" article_name="Economic Development" number="4-801" title_number="4" title_name="Tourism, Film, and the Arts" subtitle_number="8" subtitle_name="Special Fund for Preservation of Cultural Arts in Maryland">
  <level label="a">
    <text>In this section, “Fund” means the Special Fund for Preservation of Cultural Arts in Maryland.</text>
  </level>
  <level label="b">
    <text>There is a Special Fund for Preservation of Cultural Arts in Maryland.</text>
  </level>
  <level label="c">
    <text>The purpose of the Fund is to provide supplemental grants to cultural arts organizations in the State that qualify for general operating support grants from the Maryland State Arts Council.</text>
  </level>
  <level label="d">
    <text>The Secretary of Commerce 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 § 2–202(a)(1)(ii) of the Tax – General Article; 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="g">
    <text>The Fund shall be used to provide supplemental grants for operating and programmatic improvements that strengthen the organizational capacity and financial stability of cultural arts organizations in the State that qualify for general operating support grants from the Maryland State Arts Council.</text>
  </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 investment earnings of the Fund shall be credited to the General Fund of the State.</text>
    </level>
  </level>
  <level label="i">
    <text>For each appropriation to the Fund, the Governor may:</text>
    <level label="1">
      <text>include the funds in the State budget subject to appropriation by the General Assembly; or</text>
    </level>
    <level label="2">
      <text>transfer the funds by budget amendment from the Fund to the expenditure account of the Maryland State Arts Council.</text>
    </level>
  </level>
  <level label="j">
    <text>Supplemental grants made from the Fund are supplemental to and may not take the place of funding that otherwise would be appropriated for qualifying organizations.</text>
  </level>
</section>
