992

LAWS OF MARYLAND

Ch. 212

CHAPTER 212

(House Bill 1203)

AN ACT concerning

Maryland Historical Trust - Loans

FOR the purpose of clarifying certain provisions of law to
permit certain loans by the Maryland Historical Trust
for acquiring or restoring properties worthy of
perpetuation.

BY repealing and reenacting, with amendments,

Article 41 - Governor - Executive and Administrative

Departments
Section 181-I-l(a)
Annotated Code of Maryland
(1978 Replacement Volume and 1979 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 41 - Governor - Executive and Administrative
Departments

181-I-1.

(a) A Capital Revolving Fund for Historic Preservation
is created, into which the Comptroller of the Treasury shall
place to the account of the Maryland Historical Trust, funds
authorized by statute or budget allocation or otherwise and
intended to implement and encourage restoration and
preservation of historic properties and the purposes set
forth in the other provisions of this subtitle. No loan
shall be made under this act unless the property has been
designated as historical by the National Trust for Historic
Preservation or the Maryland Historical Trust. The funds may
be expended by the Maryland Historical Trust, with the
approval of the Board of Public Works, for the following
purposes:

(1)  Purchase, or other acquisition or
restoration, for resale, subject to appropriate covenants,
of properties intended for preservation.

(2)  Loans to nonprofit preservation foundations,
organizations, and individuals for the purpose of acquiring
[and] OR restoring properties worthy of perpetuation. Loans
to individuals under this act will be considered only after