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Ch. 491
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2007 Laws of Maryland
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(2) Educational Assistance Grants that are awarded to low and
moderate income students to assist in paying educational costs, as defined by
regulations adopted by the Commission.
18-307.
(a) (1) Except as provided in subsection (d) of this section, the Office shall
compile and certify lists for the entire State that rank applicants by financial need.
(2) TO DETERMINE THE FINANCIAL NEED OF AN APPLICANT, THE
OFFICE MAY NOT CONSIDER AN AMOUNT RECEIVED BY THE APPLICANT AS AN EARNED INCOME CREDIT UNDER § 32 OF THE INTERNAL REVENUE CODE.
(b) All funds for annual initial grants shall be awarded from the statewide
list on the basis of greatest financial need.
(c) On or before May 1 of each year, the Office shall send each Senator and
each Delegate a list of individuals in each legislative district to whom Educational
Excellence Awards are awarded.
(d) (1) (i) If State funds are available for this purpose, institutions of
higher education in the State may provide Educational Excellence Awards to students
who otherwise meet the requirements for receiving an Educational Excellence Award
but who apply after the March 1 deadline or have other extenuating circumstances.
(ii) Each year the Commission shall transfer at least $2 million
of the funds available under § 18-107(b) of this title for the purposes of this
subsection.
(2) The Commission shall:
(i) Establish guidelines for the awarding of Educational
Excellence Awards by the institutions of higher education to the students; and
(ii) Adopt regulations necessary for the implementation of this
subsection.
(3) (i) The Commission shall allocate available funds to
institutions of higher education based on the proportion of State residents enrolled at
each institution who receive federal Pell Grants.
(ii) An institution of higher education that receives funds under
this paragraph shall provide the Commission with an annual audit describing the
disposition of the funds.
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- 3214 -
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