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2005 LAWS OF MARYLAND
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Ch. 281
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(3) [administer and] subsidize the Senior Prescription Drug
ASSISTANCE Program established under Title 14, Subtitle 5, Part II of this title.
(e) The subsidy required under the Senior Prescription Drug ASSISTANCE
Program may not exceed:
(1) FOR THE PERIOD OF JANUARY 1, 2006, THROUGH JUNE 30, 2006,
$8,000,000;
(2) FOR FISCAL YEAR 2007, $14,000,000; AND
(3) FOR ANY YEAR the value of the nonprofit health service plan's
premium tax exemption under § 6-101(b) of this article.
14-504.
(a) (1) There is a Maryland Health Insurance Plan Fund.
(2) The Fund is a special nonlapsing fund that is not subject to § 7-302 of
the State Finance and Procurement Article.
(3) The Treasurer shall separately hold and the Comptroller shall
account for the Fund.
(4) The Fund shall be invested and reinvested at the direction of the
Board in a manner that is consistent with the requirements of Title 5, Subtitle 6 of
this article.
(5) Any investment earnings shall be retained to the credit of the Fund.
(6) On an annual basis, the Fund shall be subject to an independent
actuarial review setting forth an opinion relating to reserves and related actuarial
items held in support of policies and contracts.
(7) The Fund shall be used only to provide funding for the purposes
authorized under this subtitle.
(b) The Fund shall consist of:
(1) premiums for coverage that the Plan issues;
(2) except as provided in § 14-513(a) of this subtitle, premiums paid by
enrollees of the Senior Prescription Drug ASSISTANCE Program;
(3) money collected in accordance with § 19-219 of the Health - General
Article;
(4) money deposited by a carrier in accordance with § 14-513 of this
subtitle;
(5) income from investments that the Board makes or authorizes on
behalf of the Fund;
(6) interest on deposits or investments of money from the Fund;
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