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1062 LAWS OF MARYLAND Ch. 304
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CHAPTER 304
(Senate Bill 67)
AN ACT concerning
University of Maryland - Expenditure of Surplus Funds
FOR the purpose of amending the provision of law relating to the
expenditure of certain funds by the University of Maryland
in order to provide that the University shall spend or
encumber those funds by approved budget amendment and that
certain of those funds shall revert to the General Treasury
at the end of each fiscal year and certain of those funds
shall not revert and shall be available for expenditure in
subsequent fiscal years under certain conditions; providing
that this Act may not be interpreted as diminishing the
authority of the Board of Regents of the University; and
generally relating to the expenditure of surplus funds of
the University.
BY repealing
Article - Education
Section 13-105(d)(2)
Annotated Code of Maryland
(1978 Volume and 1982 Supplement)
BY adding to
Article - Education
Section 13-105(d)(2), (3), and (4)
Annotated Code of Maryland
(1978 Volume and 1982 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Education
13-105.
(d) [(2) With the written approval of the Board of Public
Works, the University may spend:
(i) Any surplus over the estimated receipts in
any fiscal year from student income, except the student
activities fee, the athletic fee, and the special fee for student
projects from any of its branches;
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(ii) Any income from the University Hospital;
and
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