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<section article="ghs" article_name="Housing and Community Development" number="4-511" future_version_removed="true" title_number="4" title_name="Division of Development Finance" subtitle_number="5" subtitle_name="Funds">
  <level label="a">
    <text>In this section, “Fund” means the Continuing the CORE Partnership Fund.</text>
  </level>
  <level label="b">
    <text>There is a Continuing the CORE Partnership Fund.</text>
  </level>
  <level label="c">
    <text>The purpose of the Fund is to assist the Department, in conjunction with the Maryland Stadium Authority, the West North Avenue Development Authority, and Baltimore City, in expeditiously removing blighted property within Baltimore City.</text>
  </level>
  <level label="d">
    <text>The Secretary 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 subsection (j) of this section;</text>
    </level>
    <level label="2">
      <text>money appropriated in the State budget to the Fund; 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="g">
    <text>The Fund may be used for:</text>
    <level label="1">
      <text>the purpose outlined in subsection (c) of this section; and</text>
    </level>
    <level label="2">
      <text>administrative expenses.</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 General Fund of the State.</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">
    <level label="1">
      <text>For fiscal year 2020, the Governor may include in the annual budget bill an appropriation of $30,000,000 to the Fund.</text>
    </level>
    <level label="2">
      <text>For fiscal years 2021 through 2024, the Governor may include in the annual budget bill an appropriation of $25,000,000 to the Fund.</text>
    </level>
    <level label="3">
      <text>For fiscal year 2026 and each fiscal year thereafter, the Governor shall include in the annual budget bill or the capital budget bill an appropriation of $50,000,000 to the Fund.</text>
    </level>
  </level>
</section>
