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Ch. 428 2004 LAWS OF MARYLAND
(5) ANY INVESTMENT EARNINGS SHALL BE RETAINED TO THE CREDIT
OF THE WATERSHED BAY RESTORATION FUND.
(6) THE WATERSHED BAY RESTORATION FUND SHALL BE SUBJECT TO
AUDIT ONCE EVERY 2 YEARS BY THE OFFICE OF LEGISLATIVE AUDITS AS PROVIDED
FOR IN UNDER § 2-1220 OF THE STATE GOVERNMENT ARTICLE.
(7) THE ADMINISTRATION SHALL OPERATE THE WATERSHED BAY
RESTORATION FUND IN ACCORDANCE WITH §§ 9-1616 THROUGH 9-1621 OF THIS
SUBTITLE.
(8) THE DEPARTMENT SHALL DETERMINE THE PRIORITY RANKING OF
PROJECTS.
(C) (G) THERE SHALL BE DEPOSITED IN THE WATERSHED BAY
RESTORATION FUND:
(1) FUNDS RECEIVED FROM THE ENVIRONMENTAL SURCHARGE
RESTORATION FEE;
(2) NET PROCEEDS OF BONDS ISSUED BY THE ADMINISTRATION;
(3) INTEREST OR OTHER INCOME EARNED ON THE INVESTMENT OF
MONEY IN THE WATERSHED BAY RESTORATION FUND; AND
(4) ANY ADDITIONAL MONEY MADE AVAILABLE FROM ANY SOURCES,
PUBLIC OR PRIVATE, FOR THE PURPOSES FOR WHICH THE WATERSHED BAY
RESTORATION FUND HAS BEEN ESTABLISHED.
(D) (H) (1) WITH REGARD TO THE FUNDS COLLECTED UNDER SUBSECTION
(B)(1)(I), FROM USERS OF AN ONSITE SEWAGE DISPOSAL SYSTEM OR HOLDING TANK
THAT RECEIVE A WATER BILL, (II), AND (III) OF THIS SECTION, BEGINNING IN FISCAL
YEAR 2006, THE COMPTROLLER SHALL:
(I) ESTABLISH A SEPARATE ACCOUNT WITHIN THE BAY
RESTORATION FUND; AND
(II) 1. DEPOSIT 70% OF THE FUNDS IN THAT ACCOUNT, TO BE
USED FOR PROJECTS THAT WILL ENHANCE THE REMOVAL OF NITROGEN FROM
ONSITE SEWAGE DISPOSAL SYSTEMS OR FOR OTHER COST-EFFECTIVE METHODS TO
REDUCE THE DISCHARGE OF NITROGEN FROM ONSITE SEWAGE DISPOSAL SYSTEMS,
WITH PRIORITY GIVEN TO THE UPGRADING OF FAILING SYSTEMS LOCATED IN THE
CHESAPEAKE AND ATLANTIC COASTAL BAYS CRITICAL AREA; AND DISBURSE THE
FUNDS AS PROVIDED UNDER PARAGRAPH (2) OF THIS SUBSECTION.
(2) THE COMPTROLLER SHALL:
(I) DEPOSIT 60% OF THE FUNDS IN THE SEPARATE ACCOUNT TO
BE USED FOR:
1. WITH PRIORITY GIVEN TO FAILING SYSTEMS AND
HOLDING TANKS LOCATED IN THE CHESAPEAKE AND ATLANTIC COASTAL BAYS
CRITICAL AREA, GRANTS OR LOANS FOR UP TO 100% OF:
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