Martin O'Malley, Governor                                                                      Ch. 6

(a)     There is a Chesapeake Bay 2010 Trust Fund.

(b)     The purpose of the Fund is to provide the financial
assistance necessary to meet, by 2010, the goals established in the
Chesapeake 2000 Agreement for the restoration of the Chesapeake
bay and its tributaries. including the patuxent river.

(c)     The Secretary shall administer the Fund.

(d)     (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.

(e)     The Fund consists of:

(1)     Money appropriated in the State budget for the
FUND:

(2)     Money distributed to the Fund under §§ 2-1104 and
2 1302.2 2-1302.1 of the tax - general article; and

(3) Any other money from any other source accepted
for the benefit of the fund.

(f)     The Fund may be used only for the implementation of the
State's tributary strategy developed in accordance with the
Chesapeake 2000 Agreement.

(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
retained to the credit of the Fund.

(h) Money expended from the Fund for the restoration of
the Chesapeake Bay and its tributaries, including the Patuxent
River, is supplemental to and is not intended to take the place of
funding that otherwise would be appropriated for Bay restoration.

8-707.

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