<?xml version='1.0' encoding='utf-8'?>
<section article="ghs" article_name="Housing and Community Development" number="6.5-107" effective_note="EFFECTIVE UNTIL JUNE 30, 2030 PER CHAPTER 74 OF 2021" title_number="6.5" title_name="Office of Statewide Broadband" subtitle_number="1">
  <level label="a">
    <text>There is a Rural Broadband Assistance Fund in the Department.</text>
  </level>
  <level label="b">
    <text>The purpose of the Fund is to assist in the establishment of broadband communication services in rural and underserved areas of the State.</text>
  </level>
  <level label="c">
    <text>The Office 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 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>money appropriated in the State budget to the Maryland Economic Development Assistance Fund under Title 5, Subtitle 3 of the Economic Development Article for the purpose of assisting in the establishment of broadband communication services in rural and underserved areas of the State;</text>
    </level>
    <level label="3">
      <text>federal money allocated or granted to the Fund;</text>
    </level>
    <level label="4">
      <text>interest earnings; and</text>
    </level>
    <level label="5">
      <text>any other money from any source accepted for the benefit of the Fund.</text>
    </level>
  </level>
  <level label="f">
    <text>The Fund may be used only for planning, construction, and maintenance of broadband communication services and equipment in rural and underserved areas and related activities.</text>
  </level>
  <level label="g">
    <level label="1">
      <text>The Treasurer shall invest the money in 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>The Office shall make payments from the Fund within 30 days after notice of a decision of the Maryland Rural Broadband Coordination Board under § 13–504(3) of the Economic Development Article.</text>
  </level>
</section>
