(a) In this section, “Fund” means the Historically Black Colleges and Universities Reserve Fund.
(b) There is a Historically Black Colleges and Universities Reserve Fund.
(c) The purpose of the Fund is to provide reserve funding for Bowie State University, Coppin State University, Morgan State University, and University of Maryland Eastern Shore that is used for purposes consistent with the uses specified under § 15–126 of this subtitle.
(d) The Maryland Higher Education Commission shall administer the Fund.
(e) (1) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
(2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
(f) The Fund consists of:
(1) The remainder of any funds unused at the end of a fiscal year that is distributed to the Fund under § 15–126 of this subtitle;
(2) Money appropriated in the State budget to the Fund;
(3) Interest earnings; and
(4) Any other money from any other source accepted for the benefit of the Fund.
(g) The Fund may be used only for the uses specified under § 15–126 of this subtitle.
(h) (1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
(2) Any interest earnings of the Fund shall be credited to the Fund.
(i) Expenditures from the Fund may be made only in accordance with the State budget.
(j) Money expended from the Fund for the uses specified under § 15–126 of this subtitle is supplemental to and is not intended to take the place of funding that otherwise would be appropriated for the uses specified under § 15–126 of this subtitle or any other funds appropriated to public institutions of higher education in the State budget.
Structure Maryland Statutes
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 15-106.5 - Tuition Increase Prohibited for 2006 Academic Year
Section 15-106.6 - Higher Education Investment Fund
Section 15-107 - Promotion of Economic Interests Through Arrangements With Private Sector
Section 15-108 - Employee Leave Time
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 15-115 - 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 15-127 - Tuition, Payment, and Fees
Section 15-128 - Annual Appropriations in Budget -- Allocations to Institutions -- Uses
Section 15-132 - Information Provided on Student Identification Cards