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H.B. 841 VETOES
(2) The Treasurer shall hold the Fund separately and the Comptroller
shall account for the Fund.
(c) After consultation with the Association, the Governor may include in the
State budget each year an appropriation to the Fund.
(d) (1) Any investment earnings of the Fund shall be credited to the Fund.
(2) Repayments on loans from the Fund shall be placed in the Fund and
made available to fund grant or loan requests.
(e) For the purpose of making loans under this subtitle, the Association shall:
(1) develop loan criteria;
(2) develop loan terms, including interest rates; and
(3) recommend to the Board of Public Works the approval or denial of
loans.
[8-203.
(a) The Comptroller may audit the financial affairs of the Association to
ensure compliance with this subtitle.
(b) (1) The Department shall require each volunteer company receiving
money under this subtitle to submit within 90 days after receipt of the equipment or
beneficial occupancy:
(i) financial statements for the fiscal year in which the money was
received; and
(ii) documentation of actual expenditures.
(2) Each volunteer company receiving money under this subtitle shall
forward the financial statements and documentation required under paragraph (1) of
this subsection, subject to § 2-1246 of the State Government Article, to the
Legislative Auditor.
(c) The Legislative Auditor shall:
(1) review the financial statements and documentation submitted in
accordance with subsection (b) of this section to determine if the money was spent in
accordance with the request for money approved by the Board of Public Works; and
(2) report the findings to the Department and, subject to § 2-1246 of the
State Government Article, to the Joint Audit Committee of the General Assembly.]
[8-204.] 8-203.
(a) The purpose of the Fund is to ensure adequate fire protection and rescue
services in the State.
(b) A grant or loan awarded under this section shall be used only for
purchasing, replacing, or improving:
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