In this subtitle the following words have the meanings indicated. “Center” means the Maryland Center for Construction Education and Innovation. “Fund” means the Construction Education and Innovation Fund.

There is a Construction Education and Innovation Fund. The Center shall administer the Fund. The Fund is a special, nonlapsing revolving fund that is not subject to § 7–302 of the State Finance and Procurement Article. The Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund. The Fund consists of: money appropriated in the State budget to the Fund; money made available to the Fund through federal programs or private contributions; money derived by the Center; or any other money made available to the Center for the Fund. For fiscal year 2018 through fiscal year 2024, the Governor shall include in the annual budget bill an appropriation to the Fund of $250,000 to support the operation of the Center. For fiscal year 2025 through fiscal year 2029, the Governor shall include in the annual budget bill an appropriation to the Fund of $531,250 to support the operation of the Center. The Fund may be used only to support the purposes of the Center. The Treasurer shall invest money in the Fund in the same manner as other State money may be invested. Any investment earnings of the Fund shall be paid into the Fund.