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<section article="gec" article_name="Economic Development" number="5-2403" title_number="5" title_name="Economic Development and Financial Assistance Programs" subtitle_number="24" subtitle_name="Industry 4.0 Technology Grant Program">
  <level label="a">
    <level label="1">
      <text>There is an Industry 4.0 Technology Grant Fund.</text>
    </level>
    <level label="2">
      <text>The Secretary shall administer the Fund.</text>
    </level>
    <level label="3">
      <level label="i">
        <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="ii">
        <text>The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <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="c">
    <text>The Fund may be used only for providing grants under the Program to eligible applicants.</text>
  </level>
  <level label="d">
    <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 General Fund of the State.</text>
    </level>
    <level label="3">
      <text>For each of fiscal years 2025 through 2028, the Governor shall include in the annual budget bill an appropriation of $1,000,000 to the Fund.</text>
    </level>
  </level>
</section>
