WILLIAM DONALD SCHAEFER, Governor

Ch. 623

(C)     (1) EACH FUND CONSISTS OF PROFITS REALIZED FROM THE SALE OF
GOODS THROUGH THE COMMISSARY OPERATION AND THE PROFITS DERIVED FROM
TELEPHONE AND VENDING MACHINE COMMISSIONS.

(2) A FUND MAY RECEIVE FUNDS FROM OTHER SOURCES, PROVIDED,
HOWEVER, THAT MONEYS FROM THE GENERAL FUND OF THE STATE MAY NOT BE
TRANSFERRED, BY BUDGET AMENDMENT OR OTHERWISE, TO A FUND.

(D)     THE TREASURER SHALL SEPARATELY HOLD AND THE COMPTROLLER
SHALL ACCOUNT FOR EACH FUND.

(E)     (1) EACH FUND SHALL BE INVESTED AND REINVESTED IN THE SAME
MANNER AS OTHER STATE FUNDS.

(2) ANY INVESTMENT EARNINGS ARE NOT PART OF A FUND.

(F)     THE COMPTROLLER SHALL PAY OUT MONEY FROM EACH FUND AS
APPROVED IN THE STATE BUDGET.

(G)     EACH FUND IS SUBJECT TO AN AUDIT BY THE OFFICE OF LEGISLATIVE
AUDITS UNDER § 2-1215 OF THE STATE GOVERNMENT ARTICLE.

(H) A FUND MAY BE USED ONLY FOR GOODS AND SERVICES THAT BENEFIT
THE GENERAL INMATE POPULATION AS DEFINED BY REGULATIONS TO BE
ADOPTED BY THE DEPARTMENT OF PUBLIC SAFETY AND CORRECTIONAL SERVICES.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1993.

Approved May 27, 1993.

CHAPTER 623
(House Bill 1586)

AN ACT concerning

Department of Economic and Employment Development - Enterprise Fund

FOR the purpose of authorizing the Department of Economic and Employment
Development to make an equity investment where it is otherwise authorized to
make a grant; establishing certain limitations and standards regarding the
Department's participation in equity investment financing under this Act; requiring
the Department to adopt certain regulations; limiting certain liability; and generally
relating to the Enterprise Fund.

BY repealing and reenacting, with amendments,

Article 83A - Department of Economic and Employment Development

Section 1-205.1

Annotated Code of Maryland                                          

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