Maryland Statutes
Subtitle 1 - General Provisions
Section 15-106.6 - Higher Education Investment Fund

(a)    (1)    In this section the following words have the meanings indicated.
        (2)    “Fund” means the Higher Education Investment Fund.
        (3)    “Public senior higher education institution” has the meaning stated in § 10–101(m) of this article.
        (4)    “Trust Account” means the Tuition Stabilization Trust Account.
        (5)    “Tuition” means the charges and fees approved by the governing board of a public senior higher education institution which are required of all undergraduate resident students by the institution as a condition of enrollment regardless of the student’s degree program, field of study, or selected courses.
    (b)    (1)    There is a Higher Education Investment Fund.
        (2)    The purpose of the Fund is to:
            (i)    Invest in public higher education and workforce development; and
            (ii)    Keep tuition affordable for Maryland students and families.
        (3)    The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
        (4)    The Treasurer shall hold the Fund and the Comptroller shall account for the Fund.
        (5)    The proceeds of the Fund shall be invested and reinvested.
        (6)    Any investment earnings shall be paid into the Fund.
        (7)    The Fund consists of:
            (i)    Money appropriated in the State budget for the Fund; and
            (ii)    Any other money from any other source accepted for the benefit of the Fund.
        (8)    The Commission shall administer the Fund.
        (9)    Money in the Fund may be expended only:
            (i)    To supplement General Fund appropriations to research institutes of the University System of Maryland and public senior higher education institutions;
            (ii)    For capital projects for research institutes of the University System of Maryland and public senior higher education institutions;
            (iii)    For workforce development initiatives administered by the Commission; and
            (iv)    For initiatives to address higher education needs related to the United States Department of Defense Base Realignment and Closure process.
        (10)    Expenditures from the Fund may be made only in accordance with an appropriation approved by the General Assembly in the annual State budget.
    (c)    (1)    Within the Fund there is a Tuition Stabilization Trust Account.
        (2)    (i)    The Trust Account is established to retain revenues for stabilizing tuition costs for resident undergraduate students.
            (ii)    In years of increasing corporate tax revenues that are allocated to the Fund under § 2–613.1 of the Tax – General Article, funds shall be deposited into the Trust Account.
            (iii)    Funds in the Trust Account shall be used only to stabilize tuition at public senior higher education institutions.
            (iv)    It is the goal of the State that any increase in resident undergraduate tuition and academic fees at public senior higher education institutions in any given year should be limited to a percent not to exceed the increase in the 3–year rolling average of the State’s median family income.
        (3)    The Trust Account consists of:
            (i)    Money appropriated in the State budget for the Trust Account; and
            (ii)    Any other money from any other source accepted for the benefit of the Trust Account.
        (4)    A balance of between 1% and 5% of resident undergraduate tuition revenues received by public senior higher education institutions in the prior fiscal year should be maintained in the Trust Account.
        (5)    Money in the Trust Account may be expended only to supplement General Fund appropriations to public senior higher education institutions for the purpose of stabilizing tuition costs of resident undergraduate students.

Structure Maryland Statutes

Maryland Statutes

Education

Division III - Higher Education

Title 15 - Public Institutions of Higher Education

Subtitle 1 - General Provisions

Section 15-101 - Admission Standards

Section 15-102 - Payments by Credit Card

Section 15-103 - Access to Military Recruiters

Section 15-104 - Use of Endowment Funds, Gifts, Donations, etc.; Fundraising; Foundations

Section 15-105 - Transfer of Personnel Positions

Section 15-106 - Waiver of Tuition and Room and Board

Section 15-106.1 - Tuition Exemption for Foster Care Recipients or Unaccompanied Homeless Youths

Section 15-106.2 - Waiver of Residency Requirement for Public School Teacher

Section 15-106.3 - National Guard Students

Section 15-106.4 - Exemption From Paying Nonresident Tuition for Certain Military Personnel, Spouses, and Dependents

Section 15-106.5 - Tuition Increase Prohibited for 2006 Academic Year

Section 15-106.6 - Higher Education Investment Fund

Section 15-106.7 - Exemption From Nonresident Tuition for Children of State or Local Public Safety Employees

Section 15-106.8 - Exemption From Nonresident Tuition for Qualified Children of Undocumented Immigrants

Section 15-106.9 - Americorps Program Participants -- Waiver of Residency Requirement for In-State Tuition

Section 15-106.10 - Course That Teaches a Language or Communication Mode for Parents of Deaf or Hard of Hearing Children

Section 15-107 - Promotion of Economic Interests Through Arrangements With Private Sector

Section 15-108 - Employee Leave Time

Section 15-109 - Exemption of Provider of Utility Services From Jurisdiction of Public Service Commission

Section 15-110 - Printing of Social Security Number

Section 15-111 - Credit Card Marketing and Merchandising Conducted at Higher Education Institutions

Section 15-112 - Sale of College Textbooks

Section 15-113 - Development and Adoption of Guidelines and Policies

Section 15-114 - Degree Plans

Section 15-115 - Pathway Systems to Graduation

Section 15-116 - Financial Aid Dedicated to Community College Transfer Students

Section 15-117 - Standard Number of Credits for Degrees

Section 15-119 - Freedom of Speech and Freedom of Press in School-Sponsored Media

Section 15-120 - Registration of Individuals With Unpaid Balance on Student Account

Section 15-121 - Restrictions on Reduction of Financial Aid

Section 15-122 - Instruction in Substance Use Disorders, Effective Treatment, and Pain Management

Section 15-123 - Active Shooter Drill Requirement

Section 15-124 - Priority Course Registration for Eligible Service Member

Section 15-125 - Referral of Noncredit or Credit Course as Apprenticeship or Apprenticeship Training Course

Section 15-126 - Higher Education Institution Acceptance of Individual Achieving College and Career Readiness

Section 15-127 - Tuition, Payment, and Fees

Section 15-128 - Annual Appropriations in Budget -- Allocations to Institutions -- Uses

Section 15-129 - Historically Black Colleges and Universities Reserve Fund -- Purpose -- Administration -- Specified Uses

Section 15-130 - Legislative Findings and Declarations Regarding Health and Safety of Student Athletes -- Athletic Program Implementations -- Annual Report on Student Athletes

Section 15-131 - Prohibiting Public Institution of Higher Learning From Preventing Student Athletes From Earning Compensation From Use of Name, Image or Likeness.

Section 15-132 - Information Provided on Student Identification Cards

Section 15-133 - Legal Education Success Collaborative -- Purpose -- Administration -- Appropriations Supplemental