§11–1703.

    (a)    There is a Cyber Maryland Fund.

    (b)    The purposes of the Fund are to:

        (1)    achieve the purposes identified under § 11–1702(b) of this subtitle; and

        (2)    support innovative approaches to meeting cybersecurity workforce needs.

    (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 appropriated in the State budget to the Fund;

        (2)    money transferred to the Fund in accordance with subsection (m) of this section; and

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

    (f)    The Fund may be used only for:

        (1)    administrative expenses of the Program, including hiring staff in accordance with the State budget and hiring consultants and other professionals as necessary to implement, maintain, and administer the Program and the Fund; and

        (2)    providing grants to elementary and secondary schools, institutions of higher education, including community colleges, employers, including for–profit corporations, nonprofit organizations, registered apprenticeship sponsors, local workforce boards, industry associations, labor unions, local governments, local or regional economic development entities, and other relevant partner entities at the Department’s discretion to operate cybersecurity programs based on the strategic plan of the Program.

    (g)    The Department shall adopt standards to award grants under this section.

    (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 General Fund of the State.

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

    (j)    (1)    For fiscal year 2026, the Governor may include in the annual budget bill an appropriation of $3,100,000 for the Fund to be used for the awarding of grants and contracts under § 11–1702(d) of this subtitle aligned with the strategy of and approved by the Board.

        (2)    For fiscal year 2027 and each fiscal year thereafter, the Governor may include in the annual budget bill an appropriation sufficient to run the Program.

        (3)    The Program shall seek alternate funding sources to include cost–sharing or cost–matching agreements from sources other than the State, including the federal government, the private sector, and philanthropy, to supplement the money appropriated to the Fund under paragraph (1) of this subsection.

    (k)    Subject to the availability of funding, for fiscal year 2025 and each year thereafter, $250,000 of the Fund shall be used for implementing the U.S. Chamber of Commerce Talent Pipeline Management Approach.

    (l)    The Governor may include in the annual budget bill an appropriation in an amount sufficient for the Program, including to hire sufficient staff to carry out its duties.