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Ch. 119 2007 Laws of Maryland
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[(4)] (5) (i) Subject to subparagraph (ii) of this paragraph, the
Commission may allow the use of money of the Fund for administrative expenses
related to the Fund and project review and oversight.
(ii) The Administration and the Commission may not spend
more than 10% of the funds placed in the Fund for administrative expenses.
(g) (1) The Treasurer shall invest the money of the Fund in the same
manner as other State money may be invested.
(2) Any investment earnings of the Fund shall be credited to the Fund.
(h) (1) On or before February 1 of each year, the
Administration, in consultation with the Commission, shall report
to the Governor and, in accordance with $ 2-1246 of the State
Government Article, the General Assembly, on the status of the
Fund.
(2) The report shall include:
(I) all amounts received by and disbursed from the
Fund:
(ii) all amounts used by the administration and the
commission for administrative purposes:
(iii) the evaluation criteria used by the
administration in making loans and grants from the fund and in
selecting recipients of those loans and grants:
(iv) the number and amounts of loans and grants
made in the preceding calendar year:
(v) the status of loans pending as of the end of the
preceding calendar year:
(vi) the allocation of disbursements for
development of new solar and other tier 1 renewable sources:
(vii) the projected receipts of the fund in the
current calendar year: and
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- 1116-
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