Ch. 550                                    2004 LAWS OF MARYLAND

(2) 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.

(I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE
WITH THE STATE BUDGET.

4-209.

(a) IN THIS SECTION, "FUND" MEANS THE FISHERIES RESEARCH AND
DEVELOPMENT FUND.

(B)     There is a Fisheries Research and Development Fund in the Department.

[(b) Any money the State Comptroller receives under the provisions of this title
from commercial licenses, permits, and service fees, taxes, and royalties paid to the
State for oyster shells and clam shells removed from the bottom beneath the tidal
waters of the State, from the sale of seed oysters under § 4-1103 of this title, or any
source, together with any fine or forfeiture collected under § 4-1202 of this title, shall
be credited to the Fisheries Research and Development Fund.

(c) Subject to the limitations described in §§ 4-701(i), 4-1020, 4-1028 and
4-1035, the Fund shall be used for replenishing fisheries resources, related research,
and to match federal funds available for research and development of fisheries
resources.]

(C)     THE PURPOSE OF THE FUND IS TO:

(1)      FINANCE THE REPLENISHMENT OF FISHERIES RESOURCES AND
RELATED RESEARCH; AND

(2)      MATCH FEDERAL FUNDS AVAILABLE FOR RESEARCH AND
DEVELOPMENT OF FISHERIES RESOURCES.

(D)     THE DEPARTMENT SHALL ADMINISTER THE FUND.

(E)     (1) THE FUND IS A SPECIAL, NONLAPSING FUND THAT IS NOT SUBJECT
TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(2) THE TREASURER SHALL HOLD THE FUND SEPARATELY AND THE
COMPTROLLER SHALL ACCOUNT FOR THE FUND.

(F)     THE FUND CONSISTS OF:

(1) ANY MONEY RECEIVED UNDER THIS TITLE FOR:

(I)      COMMERCIAL LICENSES AND PERMITS;

(II)     SERVICE FEES, TAXES, AND ROYALTIES PAID TO THE STATE
FOR OYSTER SHELLS AND CLAM SHELLS REMOVED FROM THE BOTTOM BENEATH
THE TIDAL WATERS OF THE STATE;

(III)   THE SALE OF SEED OYSTERS UNDER § 4-1103 OF THIS TITLE;
AND

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