(b) There is a Health Care Regulatory Fund.

(c) The purpose of the Fund is to pay all costs and expenses incurred by the
Administration related to the implementation of § 2-303.1 OF THIS TITLE AND Title
15, Subtitles 10A, 10B, and 10C of this article.

(d) The Fund shall consist of:

(1) all revenue deposited into the Fund that is received through the
imposition and collection of the health care regulatory assessment under § 2-112.2 of
this subtitle; and

(2) income from investments that the State. Treasurer makes for the

Fund.

(e) (1) Expenditures from the Fund to cover the costs and expenses for the
implementation of § 2-303.1 OF THIS TITLE AND Title 15, Subtitles 10A, 10B, and 10C
of this article may only be made:

(i) with an appropriation from the Fund approved by the General
Assembly in the annual State budget; or

(ii) by the budget amendment procedure provided for in § 7-209 of
the State Finance and Procurement Article.

(2) (i) If, in any given fiscal year, the amount of the health care
regulatory assessment revenue collected by the Commissioner and deposited into the
Fund exceeds the actual expenditures incurred by the Administration for the
implementation of § 2-303.1 OF THIS TITLE AND Title 15, Subtitles 10A, 10B, and 10C
of this article, the excess amount shall be carried forward within the Fund for the
purpose of reducing the assessment imposed by the Administration for the following
fiscal year.

(ii) If, in any given fiscal year, the amount of the health care
regulatory assessment revenue collected by the Commissioner and deposited into the
Fund is insufficient to cover the actual expenditures incurred by the Administration
to implement § 2-303.1 OF THIS TITLE AND Title 15, Subtitles 10A. 10B, and 10C of
this article because of an unforeseen emergency and expenditures are made in
accordance with the budget amendment procedure provided for in § 7-209 of the State
Finance and Procurement Article, an additional health care regulatory assessment
may be made.

(f) (1) The State Treasurer is the custodian of the Fund.

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

(3) The State Treasurer shall deposit payments received from the
Commissioner into the Fund.

(g) (1) The Fund is a continuing, nonlapsing fund and is not subject to §
7-302 of the State Finance and Procurement Article, and may not be deemed a part of
the General Fund of the State.