Article - Education
(a) (1) There is a University of Maryland Center for Economic and Entrepreneurship Development (UMCEED).
(2) UMCEED shall be located on the College Park Campus.
(b) Following all State law, regulations, and processes for program review and approval, UMCEED shall advance the education of students by developing degree and credential programs in the following fields of study:
(1) Virtual and augmented reality;
(3) Biomedical devices;
(4) Data analytics; and
(c) (1) The presidents shall appoint an Executive Director of UMCEED.
(2) The Executive Director shall:
(i) Ensure that the provisions of this section are carried out;
(ii) Develop a plan to appropriately staff UMCEED in order to effectively carry out the duties of UMCEED; and
(iii) Annually report to the presidents and to the General Assembly, in accordance with § 2–1257 of the State Government Article, the number of:
1. New certificate and degree programs created;
2. University of Maryland graduates who are employed in Maryland–based businesses;
3. Patents or other intellectual property created within the new certificate or degree programs;
4. New companies that are developed from the new certificate or degree programs; and
5. New grant or contract funding that is awarded to faculty of the new certificate or degree programs.
(d) The Governor shall appropriate at least the following amounts in general funds to UMCEED for the following fiscal years:
(1) $2,000,000 for fiscal year 2018;
(2) $4,000,000 for fiscal year 2019; and
(3) $6,000,000 for fiscal year 2020 and each fiscal year thereafter.