(a)    There is a Student Peer Mediation Program Fund.

(b)    The purpose of the Fund is to provide grant assistance to schools and community–based organizations in Baltimore City to establish student peer mediation programs to reduce juvenile violence.

(c)    The Executive Director shall administer the Fund.

(d)    (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, in conjunction with the Executive Director, shall account for the Fund.

(e)    (1)    The Fund consists of:

(i)    money appropriated in the State budget to the Fund;

(ii)    investment earnings of the Fund; and

(iii)    money from any other source accepted for the benefit of the Fund.

(2)    The Governor annually shall appropriate at least $50,000 for the Fund.

(f)    The Fund may be used only to provide grant assistance to schools and community–based organizations in Baltimore City to establish student peer mediation programs to reduce juvenile violence.

(g)    (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.

(h)    Expenditures from the Fund may be made only in accordance with the State budget.

(i)    The accounts and transactions of the Fund shall be subject to audit by the Legislative Auditor as provided in § 2–1220 of the State Government Article.