has been passed by a yea and nay vote supported by three-fifths of all the members
elected to each of the two Houses of the General Assembly, and shall take effect from
the date it is enacted.

Approved May 27, 1999.

CHAPTER 542
(Senate Bill 296)

AN ACT concerning

Public Institutions of Higher Education - Affiliated Foundations

FOR the purpose of repealing a requirement that certain affiliated foundations
operate subject to policies adopted by the governing boards of public institutions
of higher education; authorizing the presidents of the University System of
Maryland constituent institutions to establish certain foundations under certain
circumstances; requiring a certain report by a certain date; clarifying that a
certain affiliated foundation may not be considered an agency or
instrumentality of the State or unit of the Executive Branch; clarifying that a
financial obligation or liability of a certain affiliated foundation may not be
considered a debt or obligation of the State or the University System of
Maryland; and generally relating to public institutions of higher education.

BY repealing and reenacting, with amendments,
Article - Education
Section 15-104
Annotated Code of Maryland

(1997 Replacement Volume and 1998 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Education

15-104.

(a) It is the public policy of the State that endowment funds of public
institutions of higher education and gifts, donations, bequests, private endowments,
and private grants received by public institutions of higher education or their
governing boards, including any income therefrom:

(1) Shall be used in accordance with the wishes of the donors; and

(2) May not be used as a substitute for State General Fund
appropriations.