§5–221.

    (a)    In this section, “Fund” means the Park System Capital Improvements and Acquisition Fund.

    (b)    There is a Park System Capital Improvements and Acquisition Fund.

    (c)    The purpose of the Fund is to provide funding for:

        (1)    Completing State park projects related to capital improvements on lands managed by the Department for public purposes; and

        (2)    Acquiring land to be managed by the Department for public purposes as a State park.

    (d)    The Secretary shall administer the Fund.

    (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 appropriated in the State budget to the Fund;

        (2)    Interest earnings; and

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

    (g)    The Fund may be used only for:

        (1)    Completing State park projects related to capital improvements on lands managed by the Department for public purposes; and

        (2)    Acquiring land to be managed by the Department for public purposes as a State park.

    (h)    (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.

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

    (j)    Money expended from the Fund for capital improvements in the State’s parks is supplemental to and is not intended to take the place of funding that otherwise would be appropriated for capital improvements in the State’s parks and the acquisition of land by the Department that will be managed for public purposes.

    (k)    For fiscal year 2024 only, the Governor shall include in the annual budget bill a General Fund appropriation in the amount of $36,873,928 to the Fund.

    (l)    The first $70,000,000 received by the Fund may be used only as follows:

        (1)    $5,000,000 for infrastructure projects that mitigate the effects of climate change, including:

            (i)    Flood barriers;

            (ii)    Forest buffers;

            (iii)    Green spaces;

            (iv)    Building elevation;

            (v)    Stormwater infrastructure;

            (vi)    Wetlands restoration; and

            (vii)    Addressing environmental justice concerns;

        (2)    $5,000,000 for historic preservation, in accordance with subsection (m) of this section;

        (3)    $20,000,000 for transportation improvements, including:

            (i)    Improving bike lanes and trails, increasing walkability, and expanding parking availability; and

            (ii)    Targeting transportation investments to avoid capacity shutdowns;

        (4)    $10,000,000 for increasing water access, including kayak and boat launches and areas for picnicking near water and swimming; and

        (5)    $30,000,000 for land acquisition, including:

            (i)    Areas in the central and southern regions of the State that will:

                1.    Relieve overcrowding at existing State parks; and

                2.    Expand public access to State parks and outdoor recreation;

            (ii)    Sites of significance to the history of African American, Asian, Indigenous or Native American, and Hispanic or Latino populations in the State; and

            (iii)    Beachfront or waterfront property for public access.

    (m)    Funding for historic preservation under subsection (l) of this section shall be used to provide grants to, participate in cooperative agreements with, or use other financial instruments to fund the rehabilitation of State–owned historic resources in the Maryland State Park System performed by a nongovernmental organization capable of:

        (1)    Project management;

        (2)    Historic rehabilitation;

        (3)    Property development; or

        (4)    Public service corps management.

    (n)    If the Fund receives more than $70,000,000, the Department may use up to $10,000,000 for any of the purposes identified under subsection (l) of this section, including:

        (1)    Land activation;

        (2)    New structures; and

        (3)    Any capital improvements necessary to make State parks accessible to people with disabilities, including providing adult changing tables.