29 DE Code § 6102A. (2021)
2021 Delaware Code|Title 29 - State Government|Chapter 61. General Fund|§ 6102A. Twenty-First Century Fund Investments Act.

§ 6102A. Twenty-First Century Fund Investments Act. (a) This section shall be referred to as the “Twenty-First Century Fund Investments Act of 1995,” hereinafter referred to as “the Act.” (b) (1) A special fund of the State is created in the Department of Finance to be known as the “Twenty-First Century Fund.” The Secretary of Finance shall transfer the initial $35,000,000 payment received from the settlement with New York in the Delaware v. New York, 507 U.S. 490, 113 S. Ct. 1550, 123 L. Ed. 2d 211 (1993) litigation from the General Fund to the Twenty-First Century Fund. The Secretary of Finance shall deposit upon receipt the remaining proceeds from the settlement with the State of New York less expenses relating to the litigation. The Secretary of Finance shall also deposit amounts received as “distributions held by financial intermediaries” as that term is defined in § 1198(3) of Title 12 [repealed] for a full period of dormancy prior to January 1, 1988, and which had not been deposited into the State's General Fund as of April 1, 1994. The General Assembly at any time may appropriate additional moneys to the Twenty-First Century Fund. (2) Moneys from the Twenty-First Century Fund shall be expended for Delaware's citizens by making long-term investments to enhance the State's infrastructure and economic development, and for improving the quality of life. (3) The Twenty-First Century Fund shall be invested by the State Treasurer in securities consistent with the investment policies established by the Cash Management Policy Board. All income earned, and gains realized from the sales of such securities, shall be reinvested in the Twenty-First Century Fund. Losses from any sales of securities shall be charged to the Twenty-First Century Fund. (4) No money shall be expended from the Twenty-First Century Fund except pursuant to an appropriation incorporated in the State's Bond and Capital Improvements Act or the annual Appropriations Act. (5) To the extent cash available in the Twenty-First Century Fund is insufficient to pay the costs authorized for expenditure from the Twenty-First Century Fund, funds may be advanced from either the Bond and Capital Improvements Act or the General Fund, but must be subsequently reimbursed as the Twenty-First Century Fund's invested moneys become available. (6) The transfer of funds appropriated from the Twenty-First Century Fund shall be approved and administered by the Secretary of Finance. Such expenditures shall be made only upon the satisfaction of the specific requirements established by law to govern expenditures for these purposes. Unexpended cash balances in the Twenty-First Century Fund Account and Project Accounts shall be interest-earning and such interest shall be credited to the Fund Account, except as provided for in subsection (e) of this section and in § 5423 of Title 30. (c) Open space. — (1) Investment income from the Land and Water Conservation Trust Fund Endowment Account shall generate funds for local outdoor recreation, park, and trail projects administered under § 5423 of Title 30 and § 8017A of this title and state stewardship projects administered under § 5423 of Title 30. (2) For purposes of match, state funds appropriated for the Community Transportation Fund shall qualify as matching contributions for outdoor recreation, park, and trail projects as described in § 5423 of Title 30 and § 8017A of this title. (3) Notwithstanding any other provision of the Delaware Code, a portion of the investment income generated from the Land and Water Conservation Trust Fund Endowment for outdoor recreation, park, and trail projects as described in § 5423 of Title 30, and § 8017A of this title may be used to fund administrative costs that are necessary to administer this chapter. (d) Farmland preservation. — (1) A special fund appropriation account is hereby created in the Department of Agriculture to be known as the “Farmland Preservation Account.” The sum appropriated from the Twenty-First Century Fund for Farmland Preservation shall be used to support purchase of development rights in accordance with the provisions of §§ 913-918 of Title 3 to preserve quality farmland and ensure the continued viability of Delaware's agricultural industry. (2) The Secretary of Agriculture is authorized to expend funds appropriated from the Twenty-First Century Fund for Farmland Preservation under the following conditions and terms:  a. Funds of up to $1 million shall be transferred, in each fiscal year that moneys are appropriated for farmland preservation, to the farmland preservation account upon the request of the Secretary of Agriculture for expenditures sufficient to purchase development rights as approved by the Aglands Preservation Foundation. b. Additional amounts appropriated from the Twenty-First Century Fund for Farmland Preservation shall be transferred to the Farmland Preservation Account upon the transmittal of a letter of certification from the Secretary of Agriculture and the Chair of the Aglands Preservation Foundation to the Secretary of Finance demonstrating matching contributions of a total of at least a 1 (non-State) to 4 (State) ratio per fiscal year. Matching contributions shall be defined as donations of cash, land, development rights to land and/or discounted land values, referred to as donations on bargain sales. Only contributions received subsequent to July 11, 1995, shall qualify as matching contributions. (3) Of the funds transferred for the Farmland Preservation Program, the following shall be used for the expenses of the Agricultural Lands Preservation Foundation:  a. Up to $150,000 may be used for the operating expenses of the Agricultural Lands Preservation Foundation and may be held in an interest-bearing account. b. Up to $350,000 may be used to pay the costs of mapping, legal services and other related costs required to create agricultural district agreements and the costs of appraisals of all eligible properties, and shall be exempt from matching requirements and may be held in an interest-bearing account. c. The Foundation shall designate $3,000,000 in each county to be applied as a 1: 1 match of county funds designated for the purchase of preservation easements. In order to qualify such county funds must be transferred to the Delaware Agricultural Lands Preservation Trust Fund. The combination of such funds shall be used to purchase easements from those properties which have applied to the Foundation within said county, or in an area of the county designated in writing by the county, according to the procedures of the Foundation. Where joint funds are used, the county and the Foundation must mutually agree as to the easements purchased. Any county funds not fully utilized in such purchases shall be returned to the county and such funds of the State as are not fully utilized in such purchases shall revert to the Foundation's pool of funds available for preservation easements statewide. (e) Parks endowment. — A special fund appropriation account is hereby created in the Department of Natural Resources and Environmental Control, Division of Parks and Recreation, to be known as the “Parks Endowment Account.” It is the intent of the General Assembly that the sum appropriated from the Twenty-First Century Fund for the Parks Endowment Account shall be known as the “principal” and shall remain intact. The Parks Endowment Account shall be invested in a manner consistent with endowment investment guidelines as approved by the Cash Management Policy Board. The Department of Natural Resources and Environmental Control may expend up to 5 percent annually, on a 5-year rolling average, of the value of the Parks Endowment Account for capital-related purposes, including minor capital improvements, to preserve the quality of the State's parks system and enhance recreational opportunities. (f) Neighborhood revitalization. — (1) A special fund appropriation account is hereby created in the Division of Small Business to be known as the “Neighborhood Revitalization Account.” The sum appropriated from the Twenty-First Century Fund for Neighborhood Housing Revitalization shall be used to create a program to be administered according to guidelines and procedures developed by the Council on Housing and the State Housing Director to expand affordable housing opportunities for families and improve entire communities through the rehabilitation of existing houses. The Account shall serve as a revolving account and shall be eligible to receive loan repayments. (2) The Council on Housing and the State Housing Director shall develop a competitive process to approve applications for the rehabilitation of housing in existing neighborhoods and, in connection therewith, shall develop criteria to assess the relative housing needs of such neighborhoods. The State Housing Director shall review and recommend applications for the approval of the Council on Housing. Special consideration shall be given in the application approval process for communities which demonstrate a comprehensive approach to revitalization. Application guidelines for investment property owners shall be more stringent than guidelines for owner occupants, and shall include both rent and tenant income restrictions for the life of the loan or lien. (3) The Council on Housing and State Housing Director shall coordinate its program and procedures with the planning objectives of the Cabinet Committee on State Planning issues. (4) The Council on Housing and the State Housing Director shall be required to submit a strategic plan containing the guidelines and procedures for the administration of the program to the Joint Legislative Committee on Capital Improvement Programs by October 1, 1995. No funds shall be expended from the Neighborhood Revitalization Account until the Joint Legislative Committee on Capital Improvement Programs has reviewed and approved the plan. (5) Upon the request of the State Housing Director subsequent to approval of an application in accordance with this subsection, funds appropriated from the Twenty-First Century Fund for Neighborhood Revitalization shall be transferred to the Neighborhood Revitalization Account for expenditures sufficient to make such loans or grants. (g) Water and wastewater infrastructure. — (1) To ensure that Delaware has the water and wastewater treatment infrastructure necessary to preserve its environment, provide its citizens with clean drinking and recreational waters and permit economic growth, funds appropriated from the Twenty-First Century Fund shall be expended to improve the State's water and wastewater infrastructure. (2) A special fund appropriation account is hereby created in the Department of Natural Resources and Environmental Control, Division of Water to be known as the “Infrastructure Planning Account.” The Planning Account shall be dedicated to the development of comprehensive municipal and county plans. Such plans shall include municipalities and counties' needs for water facilities and for wastewater facilities under the direction of the Water Infrastructure Advisory Council. Grants from the Planning Account shall be issued pursuant to guidelines and procedures developed by the Cabinet Committee on State Planning Issues, which guidelines and procedures shall give preference to applicants which intend to develop comprehensive municipal plans and to coordinate such plans with their counties' plans and state development policies. To be eligible for funding, a municipality or county seeking such grant must commit to provide a 50 percent matching contribution. Upon request from the Secretary of Natural Resources and Environmental Control, subsequent to the approval of a project in accordance with this subsection, funds of up to a total of $2 million shall be transferred to the Account for expenditures sufficient to fund the state share of such project. (3) A special fund appropriation account is hereby created in the Department of Natural Resources and Environmental Control, Division of Water, to be known as the “Wastewater Management Account.” The Management Account shall be expended to create a state revolving loan/grant management account to enhance and supplement public and private wastewater financing. The Water Infrastructure Advisory Council shall set affordability standards for wastewater projects under the direction of the Secretary of Natural Resources and Environmental Control for the use of these moneys and establish an appropriate review and approval process. Upon the request of the Secretary of Natural Resources and Environmental Control, the Secretary of Health and Social Services and the Secretary of Finance subsequent to approval of a wastewater project in accordance with this subsection, funds shall be transferred to the Account for expenditures sufficient to fund the state share of such project. The Secretary of Natural Resources and Environmental Control is authorized to expend funds appropriated from the Twenty-First Century Fund for Wastewater Infrastructure from the Management Account. There shall be transferred to the Delaware Water Pollution Control Revolving Fund an amount to be determined in accordance with this subparagraph upon both: (i) a determination by the Secretary of Finance and the Secretary of Natural Resources and Environmental Control that there has been enacted a federal Clean Water Reauthorization Act or the federal Fiscal Year 1995 grant of the federal Clean Water Act [33 U.S.C. § 1251 et seq.] has been awarded to the State; and (ii) a request for transfer of funds from the Secretary of Natural Resources and Environmental Control of an amount sufficient to serve as the required state match for the federal/state program. (4) A special fund is created in the Department of Health and Social Services, Division of Public Health, to be known as the “Drinking Water Management Account.” The Management Account shall be expended to create a state revolving loan/grant management account to enhance and supplement public and private water financing. The Water Infrastructure Advisory Council shall set affordability standards for drinking water projects under the direction of the Secretaries. The Water Infrastructure Advisory Council shall make recommendations and only approve drinking water projects for funding where private sector alternatives have been explored and it is both economical, and in the public interest to do so and meets a public health need. Upon the request of the Secretary of Health and Social Services, subsequent to approval of a water project in accordance with this subsection, funds shall be transferred to the Account for expenditures sufficient to fund the state share of such project. The Secretary of Health and Social Services is authorized to expend funds appropriated from the state revolving fund for water infrastructure from the Management Account. There shall be transferred to a special fund account, established by the Director of the Office of Management and Budget, an amount to be determined in accordance with this subparagraph upon both: (i) a determination by the Secretary of Finance and the Secretary of Health and Social Services that there has been enacted amendments to the federal Safe Drinking Water Act [42 U.S.C. § 300f et seq.] to provide federal funding for water infrastructure projects; and (ii) a request for transfer of funds from the Secretary of Health and Social Services of an amount sufficient to serve as the required state match for the federal/state program. Upon such federal approval, the Department of Health and Social Services shall have the authority to administer the state revolving loan fund so as to comply with the requirements of the federal Safe Drinking Water Act, 42 U.S.C. § 300f et seq., as amended. (h) Resource conservation and development. — (1) A special fund appropriation account is hereby created in the Department of Natural Resources and Environmental Control, Division of Watershed Stewardship to be known as the “Resource Conservation Account.” Funds appropriated from the Twenty-First Century Fund for Resource Conservation and Development shall be dedicated to improve the health of communities by addressing a variety of statewide watershed and drainage issues consistent with the policies of the Cabinet Committee on State Planning Issues. (2) On or before April 1 of each year, the Department of Natural Resources and Environmental Control, Division of Watershed Stewardship in concurrence with local conservation districts shall establish an application process which includes a definition of eligible match; and shall prioritize and recommend a list of projects to the Joint Legislative Committee on Capital Improvement Programs. (3) A funding match shall be required of at least 25 percent for resource, conservation and development projects approved by the Joint Legislative Committee on Capital Improvement Programs. (4) Upon the approval of a list of projects by the Joint Legislative Committee on Capital Improvement Programs and upon the request of the Secretary of the Department of Natural Resources and Environmental Control, funds appropriated from the Twenty-First Century Fund for Resource Conservation and Development shall be transferred to the Resource Conservation Account for expenditures sufficient to fund the State share of such projects. (5) The Department of Natural Resources and Environmental Control shall submit a quarterly report detailing program activity. (6) [Repealed.] (i) Community redevelopment. — (1) A special fund appropriation account is hereby created in the Office of Management and Budget to be known as the “Community Redevelopment Account.” Funds appropriated from the Twenty-First Century Fund for Community Redevelopment shall be used for community redevelopment, revitalization and investment capital projects which will improve the economic, culture, historical and recreational health of Delaware communities. (2) The Joint Legislative Committee on the Capital Improvement Program (“the Committee”) shall adopt policies and procedures to implement this subsection following the receipt of recommendations by the Office of Management and Budget and Office of the Controller General, including the establishment of an application process, rules for project administration, rules for applicant eligibility and rules for project eligibility. Such rules shall include and define the State match and non-State match requirements. Upon the receipt and review of applications by the Office of Management and Budget with the assistance of the Office of the Controller General, the Committee shall select from the among applicants for the award of funds from the Community Redevelopment Account. (3) Funds shall only be expended from the Community Redevelopment Account to match funds provided by county and local governments, community-based nonprofit organizations or private sector contributions for such capital projects. Not more than 60 percent of the Account funds shall be awarded to community-based nonprofit applicants and no more than 40 percent of the Account funds shall be awarded to county and local governments. Funds from the Account shall only be expended to provide a state match of not more than 40 percent of project costs. Nonprofit organizations shall have to have been operating for a minimum of 2 years to be considered for Account funds. (4) No state agency or institution of higher education shall be eligible for funds from the Community Redevelopment Account. (5) Upon the request of the Co-chairs of the Committee and the Director of the Office of Management and Budget, funds appropriated from the Twenty-First Century Fund for Community Redevelopment shall be transferred to the Community Redevelopment Account to fund projects in accordance with the provisions of this subsection. (6) The Committee and the Cabinet Committee on State Planning Issues shall receive a list of projects funded and their status on a quarterly basis from the Office of Management and Budget. (j) Educational technology. — (1) A special fund appropriation account is hereby created in the Delaware Center for Educational Technology to be known as the “Educational Technology Account.” Funds appropriated from the Twenty-First Century Fund for Educational Technology shall provide computer and telecommunications technology to Delaware's classrooms by wiring schools and funding other 1-time capital-related projects. The Educational Technology Account shall support the goal of providing schoolchildren with the skills necessary to meet the State's academic achievement standards and to succeed in the workforce of the Twenty-First Century. (2) The Delaware Center for Educational Technology shall be authorized to expend funds appropriated from the Twenty-First Century Fund for Educational Technology upon the following conditions and terms. Funds shall be transferred to the Educational Technology Account upon the written request of the Chair of the Delaware Center for Educational Technology for capital-related expenses incurred to provide technology to Delaware's classrooms. The Chair of the Delaware Center for Educational Technology shall transfer an amount not to exceed $900,000 from funds appropriated from the Twenty-First Century Fund for Educational Technology to the State Board of Education for contractual services and the design and development of educational software resources for the network to meet the instructional and informational needs of educators and students. (3) Beginning in Fiscal Year 1997 and each subsequent Fiscal Year thereafter, a funding match of at least a 1 (non-state) to 1 (state) ratio shall be required to receive funds appropriated from the Twenty-First Century Fund for Educational Technology. Non-state matching funds shall be defined as a sum of money from sources other than state funds. Non-state match received after July 1, 1995, shall qualify as funding match. Funds may be drawn down from the Educational Technology account prior to matching funds being available. (4) Except for $500,000 for engineering studies, consulting and planning activities and an amount not to exceed $900,000 for contractual services and design of software resources for the network in the first fiscal year of the enactment of this section, no funds shall be expended pursuant to this subsection unless the Delaware Center for Educational Technology Board has provided a strategic plan, which shall include an expenditure plan for such funds, to the Governor, General Assembly and the State Board of Education no later than 6 months after the establishment of the Center. The Joint Legislative Committee on Capital Improvement Programs shall review and approve such plan. Subsequent to the year of enactment of this section, the Board shall be required to provide an updated strategic plan for the Center's activities to the Governor, General Assembly and the State Board of Education on or before September 1 of each year. (5) The fund is directed to reimburse the self-insurance fund for the cost of wiring the Dickinson High School. (k) Diamond State Port Corporation. — (1) A special fund appropriation account is hereby created in the Department of State to be known as the “Port Account.” (2) The Corporation as defined in subchapter II of Chapter 87 of this title shall be authorized to expend funds appropriated from the Twenty-First Century Fund for Port of Wilmington-related projects and facilities only upon the following conditions and terms:  a. The Corporation has been established and its directors nominated and confirmed; and b. The Secretary of State, Secretary of Finance and Director of the Office of Management and Budget have approved a lease or lease/purchase or purchase agreement between the Corporation and the City of Wilmington; and c. Funds which in any fiscal year in the aggregate do not exceed $2 million shall be transferred from the Twenty-First Century Fund to the Port Account upon the written request of the Chair of the Corporation. For funds to be transferred from the Twenty-First Century Fund to the Port Account which in any fiscal year in the aggregate exceed $2 million, a request by resolution shall be passed by 7 of 9 of the directors of the Corporation, which resolution certifies that the request is in compliance with the Corporation's legislative purpose and function, and shall be transmitted by the Chair of the Corporation to the Secretary of Finance.70 Del. Laws, c. 210, §§  20, 22, 24;  70 Del. Laws, c. 290, §§  9, 10;  70 Del. Laws, c. 305, §  1;  70 Del. Laws, c. 473, §§  14(d), (e), 16-21;  71 Del. Laws, c. 150, §  16(c), (d), 19;  72 Del. Laws, c. 489, §§  45-47;  73 Del. Laws, c. 95, §  84(e)(2);  75 Del. Laws, c. 88, §  21(13);  75 Del. Laws, c. 98, §  133;  75 Del. Laws, c. 353, §  81(f), (g);  76 Del. Laws, c. 79, §  17;  76 Del. Laws, c. 186, §  10;  76 Del. Laws, c. 280, §  307(a);  77 Del. Laws, c. 106, §  7;  77 Del. Laws, c. 223, §  6;  77 Del. Laws, c. 236, §  1;  77 Del. Laws, c. 430, §§  57, 58;  79 Del. Laws, c. 48, §  2;  79 Del. Laws, c. 420, §  1;  81 Del. Laws, c. 1, §  2;  81 Del. Laws, c. 49, §  3;  81 Del. Laws, c. 374, § 18;