Ch. 87                                     1996 LAWS OF MARYLAND

(2)     The Fund shall be invested and reinvested in the same manner as other
State funds.

(3)     Investment earnings shall accrue to the credit of the [General] Fund.

(I) THE CHIEF OF INFORMATION TECHNOLOGY SHALL ADMINISTER THE
FUND IN ACCORDANCE WITH THIS SECTION AND MAY RECEIVE AND ACCEPT FROM
ANY SOURCE, CONTRIBUTIONS, GRANTS, OR GIFTS OF MONEY OR PROPERTY IN
ACCORDANCE WITH § 2-201 OF THIS ARTICLE.

(H) (1) THE FUND IS SUBJECT TO A CEILING ON THE AMOUNT OF MONEYS
THAT MAY BE CREDITED TO THE FUND FOR THE FISCAL YEAR FOR WHICH THE
BUDGET IS SUBMITTED.

(2) THE GOVERNOR SHALL INCLUDE IN THE ANNUAL STATE BUDGET A
PROPOSED CEILING FOR THE FUND.

(3) THE CEILING ON THE FUND IS SET AS ENACTED IN THE ANNUAL
STATE BUDGET BILL

(4) ANY REVENUES EARNED IN EXCESS OF THE CEILING ON THE
AMOUNT OF MONEYS THAT MAY BE CREDITED TO THE FUND IN A FISCAL YEAR
SHALL BE CREDITED TO THE GENERAL FUND OF THE STATE

(I) THE CHIEF OF INFORMATION TECHNOLOGY:

(1) SHALL ADMINISTER THE FUND IN ACCORDANCE WITH THIS
SECTION;

(2) SUBJECT TO THE PROVISIONS OF §§ 2-201 AND 3-405 OF THIS
ARTICLE. MAY RECEIVE AND ACCEPT CONTRIBUTIONS, GRANTS. OR GIFTS OF
MONEY OR PROPERTY; AND

(3) SHALL BE RESPONSIBLE FOR OVERSEEING THE IMPLEMENTATION
OF PROJECTS FUNDED BY MONEYS FROM THE FUND.

(J) THE GOVERNOR SHALL SUBMIT WITH THE BUDGET:

(1) A SUMMARY SHOWING THE UNENCUMBERED BALANCE IN THE
FUND AS OF THE CLOSE OF THE PRIOR FISCAL YEAR AND A LISTING OF ANY
ENCUMBRANCES;

(2) AN ESTIMATE OF PROJECTED REVENUE FROM EACH OF THE
SOURCES SPECIFIED IN SUBSECTION (E) OF THIS SECTION FOR THE FISCAL YEAR
FOR WHICH THE BUDGET IS SUBMITTED; AND

(3) A DESCRIPTIVE LISTING OF PROJECTS REFLECTING PROJECTED
COSTS FOR THE FISCAL YEAR FOR WHICH THE BUDGET IS SUBMITTED AND ANY
ESTIMATED FUTURE YEAR COSTS.

[(f)] (J) (K) (1) Expenditures from the Fund shall be made only:

(I) in accordance with an appropriation approved by the General
Assembly in the annual State budget OR; OR

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