ROBERT L. EHRLICH, JR., Governor

H.B. 1147

(c) If the [Forvm] COUNCIL fails to dispose of any assets, the circuit court for
the county in which the [Forvm] COUNCIL has its principal office shall dispose of the
assets in a manner consistent with subsection (b) of this section.

Article - State Finance and Procurement

2-206.

(a)     (1) In this section the following words have the meanings indicated.

(2)     "Board" means the Maryland Agricultural Education and Rural
Development Assistance Board.

(3)     "COUNCIL" MEANS THE RURAL MARYLAND COUNCIL ESTABLISHED
UNDER ARTICLE 41, TITLE 15 OF THE CODE.

(4)      "Fund" means the Maryland Agricultural Education and Rural
Development Assistance Fund.

(b)     The General Assembly finds and declares that:

(1)     many nonprofit organizations that serve the needs of the rural areas
of the State experience fiscal difficulties in addressing the areas of economic and
community development and agriculture and forestry education because of the
inadequacy of funding resources for them;

(2)     these organizations do not have the access to private and public
sources of funding that are generally more available to nonprofit groups that serve
the needs of the metropolitan areas of the State; and

(3)     as a result, the rural areas of the State face a serious deficit of
resources where the need, in many instances, is greatest.

(c)      (1) There is a Maryland Agricultural Education and Rural Development
Assistance Fund that shall be administered by the [Board of Public Works] COUNCIL.

(2)     The purpose of the Fund is to provide funding:

(i) to rural regional planning and economic development
organizations and rural community development programs whose missions and work
have statewide implications and merit State support; and

(ii) to augment the efforts of advanced technology centers AND
SIMILAR PROGRAMS that serve agricultural and natural resources based small
businesses in rural areas through community colleges.

(3)     (i) The Fund is a continuing, nonlapsing fund which is not subject
to § 7-302 of this article.

(ii) The Treasurer shall separately hold and the Comptroller shall
account for the Fund.

(iii) The Treasurer may invest moneys in the Fund in the same
manner as other State money may be invested.

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