WILLIAM DONALD SCHAEFER, Governor

STATE ARE EXPERIENCING ECONOMIC AND SOCIAL DISTRESS AS A
RESULT OF A SHORTAGE OF SIGNIFICANT PRIVATE INVESTMENT IN
SUCH AREAS;

(2) FINANCIAL INSTITUTIONS OPERATING IN THE STATE ARE
RECOGNIZING THEIR HEIGHTENED RESPONSIBILITY TO PROVIDE
FINANCIAL ASSISTANCE TO THESE COMMUNITIES AND
NEIGHBORHOODS; AND

(3) FEDERAL AND STATE REGULATORY AGENCIES ARE
REQUIRING INCREASED LEVELS OF COMMUNITY REINVESTMENT
ACTIVITY BY THESE FINANCIAL INSTITUTIONS.

(B) THE GENERAL ASSEMBLY THEREFORE DECLARES THAT THE
PUBLIC INTEREST IS SERVED BY THE STATE PROMOTING THE
DEVELOPMENT OF A FINANCIAL VEHICLE TO BE OPERATED BY PRIVATE
FINANCIAL INSTITUTIONS, IN ORDER TO:

(1) TARGET INCREASING COMMUNITY REINVESTMENT TO
NEIGHBORHOODS AND COMMUNITIES IN THE STATE HAVING URGENT
NEEDS FOR REINVESTMENT;

(2) MAKE COMMUNITY REINVESTMENT BY FINANCIAL
INSTITUTIONS EASIER AND MORE DESIRABLE BY SPREADING THE
FINANCIAL RISK, AND OFFERING THE EXPERIENCE OF THE STATE IN
PROVIDING COMMUNITY REINVESTMENT LENDING; AND

(3) FORGE PARTNERSHIPS AMONG FINANCIAL INSTITUTIONS
AND THE STATE IN MEETING COMMUNITY REINVESTMENT GOALS.

10-102.

(A) IN THIS TITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(B) "BOARD" MEANS THE COMMUNITY REINVESTMENT BOARD,
WHICH IS RESPONSIBLE FOR THE ADMINISTRATION AND OPERATION OF
THE FUND.

(C) "COMMUNITY REINVESTMENT ASSISTANCE" MEANS ANY FORM
OF LOAN, ASSURANCE, GUARANTEE, GRANT, PAYMENT, CREDIT
ENHANCEMENT, OR OTHER ASSISTANCE PROVIDED BY THE FUND AS SET
FORTH IN § 10-109 OF THIS TITLE, AND ANY COMMITMENT TO PROVIDE
ANY SUCH ASSISTANCE.

(D) "COMMUNITY REINVESTMENT PROJECT" MEANS ANY PROJECT
OR PROGRAM ELIGIBLE UNDER § 10 108(A) § 10-108(B) OF THIS TITLE TO
RECEIVE COMMUNITY REINVESTMENT ASSISTANCE FROM THE FUND.

(E) "FUND" MEANS THE COMMUNITY REINVESTMENT FUND, A
PRIVATE AND INDEPENDENT LEGAL ENTITY TO BE ASSISTED BY THE

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