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Ch. 492
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2000 LAWS OF MARYLAND
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(3) (4) THE PERCENTAGE COMPONENT OF THE GOVERNOR'S TEACHER
SALARY CHALLENGE GRANT*
(I) SHALL BE USED TO PROVIDE AN ADDITIONAL 1% COST OF
LIVING ADJUSTMENT FOR TEACHERS; AND
(II) MAY NOT BE USED TO SUPPLANT OTHER STATE OR LOCAL
FUNDS FOR THE COST OF SALARY INCREASES PAID PURSUANT TO A NEGOTIATED
AGREEMENT OR OTHER CONTRACTUAL OBLIGATION EXISTING PRIOR TO THE
EFFECTIVE DATE OF THIS ACT JUNE 1, 2000.
(G) THE GOVERNOR SHALL INCLUDE FUNDS IN THE STATE BUDGET TO
ACCOMPLISH THE PURPOSES OF THIS SECTION.
(H) THE DEPARTMENT OF BUDGET AND MANAGEMENT AND THE STATE
SUPERINTENDENT MAY ESTABLISH GUIDELINES OR REGULATIONS TO IMPLEMENT
THE GOVERNOR'S TEACHER SALARY CHALLENGE PROGRAM.
(A) (1) THERE IS A SPECIAL TRANSITIONAL REIMBURSEMENT FUND FOR
EDUCATION PROGRAMS.
(2) THE FUND CONSISTS OF ALL REIMBURSEMENTS UNDER $ 6 303 OF
THIS SUBTITLE OR § 16-306 OR § 23-504 OF THIS ARTICLE THAT:
(I) ARE FOR RETIREMENT CONTRIBUTIONS MADE AFTER JUNE 30,
1999 BUT BEFORE JULY 1, 2000; AND
(II) ARE SOUGHT BY THE STATE RETIREMENT AGENCY ON THE
BASIS THAT THE SALARY OF AN ELIGIBLE MEMBER OF THE TEACHERS' RETIREMENT
SYSTEM OR TEACHERS' PENSION SYSTEM IS PAID IN PART OR IN WHOLE FROM:
1. STATE AID, WHETHER GENERAL OR CATEGORICAL IN
NATURE; OR
2. FEDERAL FUNDS, WHETHER THE FUNDS ARE PAID
DIRECTLY TO A LOCAL SCHOOL SYSTEM, PUBLIC JUNIOR OR COMMUNITY COLLEGE,
OR PUBLIC LIBRARY OR ARE PASSED THROUGH FROM A UNIT OF STATE
GOVERNMENT
(3) NOTWITHSTANDING § 5-203(D) OF THIS SUBTITLE AND §§ 16-306(D)
AND 23-504(D) OF THIS ARTICLE, ALL REIMBURSEMENTS DESCRIBED IN PARAGRAPH
(2) OF THIS SUBSECTION SHALL BE CREDITED TO THE FUND.
(B) (1) THE STATE TREASURER SHALL HOLD THE FUND AND SHALL DIVEST
THE MONEY IN THE FUND IN THE SAME MANNER AS OTHER STATE MONEY MAY BE
INVESTED.
(2) ALL INTEREST ON THE FUND SHALL ACCRUE TO THE GENERAL
FUND.
(3) THE STATE COMPTROLLER SHALL ACCOUNT FOR THE FUND.
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- 2596 -
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