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<section article="ged" article_name="Education" number="15-129" title_number="15" title_name="Public Institutions of Higher Education" subtitle_number="1" subtitle_name="General Provisions">
  <level label="a">
    <text>In this section, “Fund” means the Historically Black Colleges and Universities Reserve Fund.</text>
  </level>
  <level label="b">
    <text>There is a Historically Black Colleges and Universities Reserve Fund.</text>
  </level>
  <level label="c">
    <text>The purpose of the Fund is to provide reserve funding for Bowie State University, Coppin State University, Morgan State University, and University of Maryland Eastern Shore that is used for purposes consistent with the uses specified under § 15–128 of this title.</text>
  </level>
  <level label="d">
    <text>The Maryland Higher Education Commission 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>The remainder of any funds unused at the end of a fiscal year that is distributed to the Fund under § 15–128 of this title;</text>
    </level>
    <level label="2">
      <text>Money appropriated in the State budget to the Fund;</text>
    </level>
    <level label="3">
      <text>Interest earnings; 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 for the uses specified under § 15–128 of this title.</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 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>
  <level label="j">
    <text>Money expended from the Fund for the uses specified under § 15–128 of this title is supplemental to and is not intended to take the place of funding that otherwise would be appropriated for the uses specified under § 15–128 of this title or any other funds appropriated to public institutions of higher education in the State budget.</text>
  </level>
</section>
