Ch. 236 LAWS OF MARYLAND

Article 83A - Department of Economic and Employment Development

5-502.

(a) There is an Industrial and Commercial Redevelopment Fund.

(b) The Fund is a continuing, nonlapsing special fund that consists of moneys
appropriated by the State to the Fund and of any repayment of principal or interest on
a loan made from the Fund.

(c) The Department shall manage and supervise the Fund.

(d) The State Treasurer shall hold, and the State Comptroller shall account for
the Fund.

(e) The Fund shall be invested and reinvested in the same manner as other State
funds. Any investment earnings of the Fund shall be paid into the General Fund of the
State.

(f) On July 1 of each year, moneys in the Fund in excess of $15,000,000 shall be
paid over to the General Fund of the State.

(G) THE MONEYS IN THE FUND MAY BE EXPENDED TO PAY ALL
EXPENSES IN CONNECTION WITH THE ADMINISTRATION OF THIS
SUBTITLE, INCLUDING EXPENSES FOR ADMINISTRATIVE, LEGAL,
ACTUARIAL, AND OTHER SERVICES.

SECTION 2. AND BE IT FURTHER ENACTED, That the Department of
Economic and Employment Development shall submit an annual report by December 31 to
(he Budget and Taxation and the Finance Committees in the Maryland Senate and the
Appropriations and Economic Matters Committees in the House of Delegates that specifies
for each loan program the total amount of money in the Fund, the total amount loaned
during the calendar year, the amount spent on administrative, legal, and actuarial services,
and a breakdown of other services obtained during the calendar year.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1990.

Approved May 2, 1990.

CHAPTER 236
(Senate Bill 75)

AN ACT concerning

Insurance - Coverage for Surviving Spouses Continuation of Health Benefits

FOR the purpose of altering a certain definition to provide that certain employees
covered by certain types of insurance contracts may continue insurance coverage;
providing that certain contracts shall provide certain continuation benefits under

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