(a) In this section, “Fund” means the Nurse Support Program Assistance Fund.
(b) (1) There is a Nurse Support Program Assistance Fund in the Commission.
(2) The Fund is a continuing, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
(3) The Treasurer shall separately hold and the Comptroller shall account for the Fund.
(4) The Fund shall be invested and reinvested in the same manner as other State funds.
(5) Any investment earnings of the Fund shall be paid into the Fund.
(c) The Fund consists of revenue generated through an increase, as approved by the Health Services Cost Review Commission, to the rate structure of all hospitals in accordance with § 19–211 of the Health – General Article.
(d) Expenditures from the Fund shall be made by an appropriation in the annual State budget or by approved budget amendment as provided under § 7–209 of the State Finance and Procurement Article.
(e) The money in the Fund shall be used for competitive grants and statewide grants to increase the number of qualified nurses in Maryland hospitals in accordance with guidelines established by the Commission and the Health Services Cost Review Commission.
(f) The guidelines established under subsection (e) of this section shall provide that a portion of the competitive grants and statewide grants be used to attract and retain minorities to nursing and nurse faculty careers in Maryland.
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