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Ch. 717 2024 LAWS OF MARYLAND

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(ii) for fiscal year 2020:

1. to the accumulation funds of the State Retirement and Pension System an amount, up to a maximum of $50,000,000, that is equal to one–half of the amount by which the unappropriated General Fund surplus as of June 30 of the second preceding fiscal year exceeds $10,000,000; and

2. to the Account equal to the amount by which the unappropriated General Fund surplus as of June 30 of the second preceding fiscal year exceeds $10,000,000, less the amount of the appropriation under item 1 of this item;

(iii) for fiscal year 2021, to the Account in the amount of $291,439,149;

(iv) except as provided in item (v) of this paragraph, for fiscal year 2022 and each fiscal year thereafter:

1. to the accumulation funds of the State Retirement and Pension System an amount, up to a maximum of $25,000,000, that is equal to one–quarter of the amount by which the unappropriated General Fund surplus as of June 30 of the second preceding fiscal year exceeds $10,000,000;

2. to the Postretirement Health Benefits Trust Fund established under § 34–101 of the State Personnel and Pensions Article an amount, up to a maximum of $25,000,000, that is equal to one–quarter of the amount by which the unappropriated General Fund surplus as of June 30 of the second preceding fiscal year exceeds $10,000,000; and

3. to the Account equal to the amount by which the unappropriated General Fund surplus as of June 30 of the second preceding fiscal year exceeds $10,000,000, less the amount of the appropriations under items 1 and 2 of this item; and

(v) for fiscal year 2024:

1. to the Maryland Equity Investment Fund established under § 10–487 of the Economic Development Article an amount, up to $10,000,000, that is equal to 10% of the amount by which the unappropriated General Fund surplus as of June 30 of the second preceding fiscal year exceeds $10,000,000;

2. to the accumulation funds of the State Retirement and Pension System an amount, up to a maximum of $15,000,000, that is equal to 15% of the amount by which the unappropriated General Fund surplus as of June 30 of the second preceding fiscal year exceeds $10,000,000; and