Maryland § 15-1004 - IN EFFECT

§ 15-1004. IN EFFECT

    IN EFFECT

    // EFFECTIVE UNTIL DECEMBER 31, 2030 PER CHAPTER 48 OF 2024 //

    (a)    There is a Senior Prescription Drug Assistance Program Fund.

    (b)    The purpose of the Fund is to support the administration, operation, and activities of the Program.

    (c)    The Department 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 shall account for the Fund.

    (e)    The Fund consists of:

        (1)    Money transferred to the Fund by a nonprofit health service plan under § 14–106(d) of the Insurance Article;

        (2)    Money appropriated in the State budget to the Fund;

        (3)    Interest earnings of the Fund; and

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

    (f)    (1)    Except as provided in paragraphs (2) and (3) of this subsection, the Fund may be used only for the administration, operation, and activities of the Program.

        (2)    For fiscal year 2025 and each fiscal year thereafter, excess funds not required for the administration, operation, and activities of the Program may be used only to subsidize:

            (i)    The Kidney Disease Program under Title 13, Subtitle 3 of this article; or

            (ii)    The provision of mental health services to the uninsured under Title 10, Subtitle 2 of this article.

        (3)    For fiscal year 2025 and each fiscal year thereafter, excess funds not required for the administration, operation, and activities of the Program may be used for health reimbursement accounts established in accordance with § 105(h) of the Internal Revenue Code under § 2–509.1 of the State Personnel and Pensions Article.

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

        (2)    The Program shall have its own program code within the State budget.

    (i)    (1)    Beginning July 1, 2016, and quarterly thereafter, the nonprofit health service plan required to subsidize the Program under § 14–106(d) of the Insurance Article shall deposit to the Fund the amount that is necessary to operate and administer the Program for the following quarter.

        (2)    The amount deposited shall be determined by the Department based on enrollment, expenditures, and revenue for the previous year.

        (3)    The amount required by the Department under paragraph (2) of this subsection may not exceed the amounts specified in § 14–106(e) of the Insurance Article.