Bill > HB804

This bill establishes the Aging Resilience Fund, a special, nonlapsing fund managed by the Secretary of Aging, to support the Department of Aging's mission, including personnel, partnership development, and various programs and services for seniors. The fund will be comprised of investment earnings, fees collected under the subtitle, and any other accepted contributions, with money received from the fund intended to supplement, not replace, existing state funding. Importantly, interest earned by the fund will be credited back to it, and the Governor cannot reduce appropriations for the fund as approved by the General Assembly. The Secretary is required to submit an annual report by January 1st to specific legislative committees detailing the fund's total amount, the number and sources of deposits, and the amounts and purposes of expenditures. This bill also amends the State Finance and Procurement Article to ensure that interest earnings on the Aging Resilience Fund are credited to the fund itself, rather than the State's General Fund, and specifies that the Act takes effect on July 1, 2026.