Article - Education
(a) In this section, “Fund” means the Prince George’s County Public–Private Partnership Fund.
(b) There is a Prince George’s County Public–Private Partnership Fund.
(c) The purpose of the Fund is to provide funds to pay a public or private entity for the availability payment due under the Prince George’s County public–private partnership agreement entered into in accordance with § 4–126 of this subtitle.
(d) The Interagency Commission on School Construction shall administer the Fund as described in the three–party memorandum of understanding entered into under § 4–126(e)(3)(ii) of this subtitle.
(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 deposited into the Fund by Prince George’s County and the Prince George’s County Board;
(2) Money deposited into the Fund by the State;
(3) Any investment earnings of the Fund; and
(4) Any other money from any other source accepted for the benefit of the Fund.
(g) The Fund may be used only to provide funding for alternative financing methods under § 4–126 of this subtitle in Prince George’s County.
(h) Any appropriation to the Fund shall be used to supplement, but not supplant, money appropriated to Prince George’s County for public school construction under the Public School Construction Program established in Title 5, Subtitle 3 of this article.
(i) If a memorandum of understanding is entered into under § 4–126 of this subtitle and State funding is provided for an availability payment, the Prince George’s County Board and Prince George’s County shall deposit into the Fund the amounts required under the memorandum of understanding.
(j) On January 15, 2021, and each January 15 thereafter, the Prince George’s County Board, Prince George’s County, and the Interagency Commission on School Construction jointly shall report to the Governor and, in accordance with § 2–1257 of the State Government Article, the fiscal committees of the General Assembly, on the progress of construction and renovations of public school facilities using an alternative financing method and that receive State funds, including actions:
(1) Taken during the previous fiscal year; and
(2) Planned for the current fiscal year.