(a) In this section, “Fund” means the State Lakes Protection and Restoration Fund.
(b) There is a State Lakes Protection and Restoration Fund.
(c) The purpose of the Fund is to protect and restore State–owned or State–managed lakes by:
(1) Removing sediment;
(2) Treating contaminated sediment;
(3) Preventing the spread of invasive species;
(4) Improving ecological and recreational value; and
(5) Taking any other action the Department determines is necessary.
(d) The Secretary 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) Money appropriated in the State budget to the Fund; and
(2) Any other money from any other source accepted for the benefit of the Fund.
(g) The Fund may be used only for the protection or restoration of State–owned or State–managed lakes by:
(1) Removing sediment;
(2) Treating contaminated sediment;
(3) Preventing the spread of invasive species;
(4) Improving ecological and recreational value; and
(5) Taking any other action the Department determines is necessary.
(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 protection or restoration of State–owned or State–managed lakes is supplemental to and is not intended to take the place of funding that would otherwise be appropriated for the protection or restoration of State–owned or State–managed lakes.
(k) For fiscal year 2020 and each fiscal year thereafter, the Governor shall include in the annual budget bill an appropriation of $1,000,000 to the Fund.