CHAPTER 517
(House Bill 184)

AN ACT concerning

The Joseph Fund

FOR the purpose of establishing the Joseph Fund as a nonlapsing fund within the
State Reserve Fund; defining a certain term; providing for the purpose and
management of the Fund; specifying what moneys may constitute the Fund;
authorizing the State Treasurer to invest moneys in the Fund in a certain
manner; requiring the Comptroller to transfer certain moneys into authorizing
the Governor to include in the budget bill for certain fiscal years an
appropriation to the Fund under certain circumstances; creating the Joseph
Fund Board to oversee the advise the Governor on management of the Fund;
providing for the membership and structure of the Board; specifying the powers
and duties of the Board; specifying the powers and duties of the Governor
regarding the Fund; authorizing moneys to be expended from the Fund under
certain conditions and for certain purposes; requiring a certain report on an
annual basis; specifying the terms of the initial members of the Board; defining
certain terms; and generally relating to the establishment of the Joseph Fund
and Joseph Fund Board.

BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 7-309

Annotated Code of Maryland

(1995 Replacement Volume and 1998 Supplement)

BY adding to

Article - State Finance and Procurement
Section 7-327

Annotated Code of Maryland

(1995 Replacement Volume and 1998 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - State Finance and Procurement

7-309.

(a) There is a State Reserve Fund.

(b) The State Reserve Fund [is comprised of] COMPRISES:

(1) the Dedicated Purpose Fund;

(2) the Revenue Stabilization Fund;