Ch. 63 LAWS OF MARYLAND
3-2A-03.

(A) ALL RECEIPTS DESIGNATED FOR THE GRANT FUND SHALL BE
PLACED IN THE GRANT FUND HELD BY THE DEPARTMENT AND
ADMINISTERED BY THE TRUST, INCLUDING:

(1) MONEYS APPROPRIATED BY THE STATE TO THE GRANT

FUND;

(2) PREMIUMS, FEES, AND PAYMENTS ON REIMBURSEMENT OF
GRANTS, WHERE REQUIRED;

(3) INCOME FROM INVESTMENTS THAT THE STATE
TREASURER, ON INSTRUCTION OF THE DEPARTMENT, MAKES FOR THE
DEPARTMENT UNDER THIS SUBTITLE; AND

(4) ANY OTHER MONEYS MADE AVAILABLE TO THE GRANT
FUND.

(B) ANY UNSPENT MONEYS IN THE GRANT FUND AT THE END OF
THE FISCAL YEAR SHALL REMAIN IN THE GRANT FUND AND MAY NOT
REVERT TO THE GENERAL FUND OF THE STATE.

3-2A-04.

(A) IF, AT ANY TIME, THE AMOUNT OF MONEY IN THE GRANT FUND
EXCEEDS THE AMOUNT THAT THE TRUST CONSIDERS NECESSARY
CURRENTLY TO MEET ITS EXPENSES AND OBLIGATIONS, THE
DEPARTMENT SHALL DEPOSIT THE EXCESS MONEY WITH THE STATE
TREASURER, WHO SHALL INVEST THE MONEY IN THE MANNER
PROVIDED FOR BY LAW.

(B) ANNUALLY, THE STATE TREASURER SHALL REPORT TO THE
DEPARTMENT AS TO:

(1) THE STATUS OF THE MONEY INVESTED UNDER THIS
SUBTITLE;

(2) THE MARKET VALUE OF THE ASSETS IN THE GRANT FUND
AS OF THE DATE OF THE REPORT; AND

(3) THE INTEREST RECEIVED FROM INVESTMENTS FOR THE
GRANT FUND DURING THE PERIOD COVERED BY THE REPORT.

3-2A-05.

(A) SUBJECT TO CONDITIONS NECESSARY TO CARRY OUT THE
PURPOSES AND REQUIREMENTS OF THIS SUBTITLE, THE TRUST, ON
APPLICATION BY A LAND TRUST, MAY PROVIDE A GRANT TO THE
APPLICANT FROM THE GRANT FUND.

(B) THE TRUST MAY MAKE A GRANT TO AN APPLICANT ONLY IF:

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