Section 10-523 - Funding.
§ 10-523. Funding.
(a) In general.-
(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 for each of fiscal years 2010 and 2011 in the amount of $2,750,000 and for each of fiscal years 2012 through 2020, in the amount of $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) Retention.- All unexpended and unencumbered money appropriated to the Corporation shall remain with the Corporation for future use.
(c) Self-sufficiency.- 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) Authorized uses.- 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.
[An. Code 1957, art. 41, § 13-513(c); 2008, ch. 306, § 2; ch. 610, § 3; 2009, ch. 487, § 1; 2010, ch. 210.]