BLAIR LEE III, Acting Governor

2681

Comptroller and expended, upon approval by the Board of
Public Works, to provide a fund to make loans to certain
citizens of Maryland to purchase homes pursuant to the
provisions of §§ 266FF-1 through 266FF-4 of Article 41 of
the Annotated Code of Maryland (1971 Replacement Volume and
1977 Supplement, as amended from time to time).

(4)    Except for amounts required for administrative
costs, all scheduled payments (timely or late) of principal
and interest on loans made from the proceeds of the bonds
authorized to be issued by this Act, and made pursuant to
the provisions of §§ 266FF-1 through 266FF-4 of Article 41,
as amended from time to time, shall be used to repay the
interest on and principal of any bonds issued under this
Act. Any prepayment of the principal on a loan shall be
used to make additional loans under the Maryland Home
Financing Program, which loans shall be treated, for
purposes of this section, as loans made from proceeds of the
bonds authorized to be issued under this Act.

(5)    There is hereby levied and imposed an annual
State tax on all assessable property in the State in rate
and amount sufficient to pay the principal of and interest
on the bonds as and when due and until paid in full, such
principal to be discharged within fifteen years of the date
of issue of the bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1978.

Approved May 29, 1978.

CHAPTER 915

(House Bill 1046)

AN ACT concerning

General Assembly - Permanent Part—Time Employees

FOR the purpose of providing that permanent part—time

legislative employees shall receive a full year of

retirement service credit and may purchase retirement

service credit for prior service; providing that

permanent part-time legislative employees shall receive
a full year of retirement service credit if they are
members of the Employees' Retirement System or may
purchase credit for prior service if he or she chooses
to become a member of the Employees' Retirement System;

providing that permanent part—time legislative

employees shall receive a certain percentage of the
employment rights, benefits, and privileges accorded
permanent full-tine employees of the Departments of
Legislative Reference and Fiscal Services; providing