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2007 Vetoed Bills and Messages
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S.B. 623
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(1) THE BORROWER HAS THE RIGHT TO REDEEM THE GROUND
RENT UNDER § 8-110 OF THIS ARTICLE; AND
(2) THE REDEMPTION AMOUNT CALCULATED UNDER § 8-110(B)
OF THIS ARTICLE IS FIXED BY LAW BUT MAY ALSO BE NEGOTIATED WITH THE
GROUND LEASE HOLDER FOR A DIFFERENT AMOUNT;
(3) IT MAY BE POSSIBLE TO INCLUDE THE AMOUNT OF THE
REDEMPTION IN THIS LOAN:
(4) FOR INFORMATION ON REDEEMING THE GROUND RENT. THE
BORROWER SHOULD CONTACT THE GROUND LEASE HOLDER: AND
(5) FOR INFORMATION ON INCLUDING THE AMOUNT OF THE
REDEMPTION IN THIS LOAN. THE BORROWER SHOULD CONTACT THE LENDER
OR CREDIT GRANTOR MAKING THIS LOAN.
SECTION 2. AND BE IT FURTHER ENACTED, That the Department of
Housing and Community Development shall study the feasibility of establishing a loan
program, or expanding an existing program, to assist families of limited income who
own homes subject to redeemable ground rents to redeem those ground rents, and
report its findings and the estimated cost of the program to the House Environmental
Matters Committee, the Senate Judicial Proceedings Committee, and the Senate
Education, Health, and Environmental Affairs Committee on or before December 1,
2008.
SECTION 3. 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2007.
May 17, 2007
The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis, MD 21401
Dear Mr. President:
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In accordance with Article II, Section 17 of the Maryland Constitution, today I have
vetoed Senate Bill 657 - Prince George's County - Board of Education.
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- 4374 -
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