2013 Maryland Code
ECONOMIC DEVELOPMENT
§ 10-523 - Funding

§10-523.

(a) (1) The Corporation may receive annual funding through an appropriation in the State budget.

(2) The Corporation may also receive money for projects included in the budgets of State units.

(3) (i) To assist the Corporation in complying with subsection (c) of this section, the Governor shall include each year in the State budget bill an appropriation to the Corporation for rural business development and assistance as follows:

1. for fiscal year 2011, $2,750,000;

2. for fiscal year 2012, $2,750,000;

3. for fiscal year 2013, $2,875,000;

4. for fiscal year 2014, $2,875,000; and

5. for each of the fiscal years 2015 through 2020, $4,000,000.

(ii) In addition to any money provided under subparagraph (i) of this paragraph, the Governor may include each year in the State budget bill an appropriation to the Corporation in an amount not exceeding $5,000,000 for rural land acquisition and easement programs, including programs to assist young and beginning farmers.

(b) All unexpended and unencumbered money appropriated to the Corporation shall remain with the Corporation for future use.

(c) The Corporation shall conduct its financial affairs so that, by the year 2020, it is self-sufficient and in no further need of general operating support by the State.

(d) The Corporation may use up to 3% of the money received under § 13-306(a)(3)(ii)2 of the Tax - Property Article for administrative costs associated with the Next Generation Farmland Acquisition Program.