Ch. 550

2004 LAWS OF MARYLAND

deemed a cost of distribution and shall be allowed and computed as such, together
with other allowable expenses, for rate-making purposes. Revenues from the
surcharge shall be collected by the Comptroller and placed in the Fund.

(b)     (1) The Secretary, in consultation with the Director of the Maryland
Energy Administration, annually shall coordinate the preparation of a budget
required to carry out the provisions of this subtitle. Upon approval of the budget by
the General Assembly, the Public Service Commission shall establish the amount of
the surcharge per kilowatt hour for the fiscal year beginning July 1, 1972, and for
each subsequent fiscal year.

(2)     Notwithstanding any other provisions of this subtitle, the amount of
the surcharge for each account for each retail electric customer may not exceed the
lesser of 0.15 mill per kilowatt hour or $1,000 per month and the surcharge may not
continue beyond fiscal year 2005.

(3)     The Comptroller shall maintain the method of collection of the
surcharge from the companies and the collections shall accrue to the Fund. The
Department shall credit against the amount required to be paid into the
Environmental Trust Fund by each electric company an amount equal to 0.75% of the
total surcharge attributed to each company on the basis of the electricity distributed
within Maryland.

(c)      The Secretary shall administer the Fund. The Fund is subject to the
provisions for financial management and budgeting established by the Department of
Budget and Management. THE FUND IS A SPECIAL, NONLAPSING FUND THAT IS NOT
SUBJECT TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. ANY
INVESTMENT EARNINGS OF THE FUND MAY NOT BE TRANSFERRED OR REVERT TO
THE GENERAL FUND OF THE STATE, BUT SHALL REMAIN IN THE FUND ANY
INVESTMENT EARNINGS OF THE FUND SHALL BE CREDITED TO THE GENERAL FUND
OF THE STATE. ANY UNSPENT PORTIONS OF THE FUND AT THE END OF A FISCAL
YEAR SHALL REVERT TO THE GENERAL FUND OF THE STATE THE FUND IS A SPECIAL.
NONLAPSING FUND THAT IS NOT SUBJECT TO § 7-302 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE. The moneys in the Fund shall be used to carry out the
provisions of this subtitle as provided for in the budget, except that 10% of all moneys
accruing to the Fund from July 1, 1978 through June 30, 1983 shall be used to
supplement funds necessary to carry out the duties of the People's Counsel of the
Public Service Commission. The People's Counsel shall submit an annual budget of
necessary supplemental funds to the Department to be incorporated in the
Department's budget. For the purposes of this subtitle, the Secretary, in consultation
with the Director of the Maryland Energy Administration, may execute appropriate
contracts with any State or federal agency, research organization, industry, or
academic institution to conduct the necessary research, construct or acquire, or both,
real property including physical predictive models, laboratories, buildings, land, and
appurtenances, or support the technological development of extraordinary systems
related to power plants designed to minimize environmental impact. The Secretary
may utilize available expertise in any other State unit in the development, execution,
and management of contracts and agreements on projects relating to their areas of
prime responsibility.

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