3012                                      LAWS OF MARYLAND                                    Ch. 452

(b)  (1) Each eligible neighborhood housing services
corporation may apply for a grant in an amount not to exceed
one-third of its annual operating budget or 50,000,
whichever is less.

(2) EACH UMBRELLA CORPORATION MAY APPLY FOR A
GRANT FOR EACH OF ITS NEIGHBORHOOD HOUSING SERVICES PROGRAMS
IN AN AMOUNT NOT TO EXCEED ONE-THIRD OF THE NEIGHBORHOOD
HOUSING SERVICES PROGRAM'S ANNUAL OPERATING BUDGET OR
$50,000, WHICHEVER IS LESS.

(c)   If in any fiscal year the total amount of grant
applications received by the Department exceeds the total
amount of the Fund, the Secretary shall reduce each eligible
applicant's grant on a pro rata basis in order not to exceed
the total dollar amount of the Fund appropriated for that
fiscal year.

541.

A neighborhood housing services corporation or [any
central agency overseeing a neighborhood housing services]
UMBRELLA corporation shall be eligible for a grant upon
meeting all of the following requirements:

(1)  Timely submission of an application in the
form prescribed by the Secretary, which application shall
include:

(i) A description of the geographic
boundaries [of] SERVED BY the Neighborhood Housing Services
Corporation OR NEIGHBORHOOD HOUSING SERVICES PROGRAM;

(ii) Certification that the applicant is
currently registered with the Neighborhood Reinvestment
Corporation;

(iii) Certification of incorporation under
the laws of the State of Maryland;

(iv) Certification of receipt of a current
ruling from the Internal Revenue Service of the United
States Department of the Treasury that the applicant is an
organization which is exempt from federal income taxation;

(v) Certification that the remaining

two-thirds portion of the applicant's annual operating

budget has been provided exclusively from political
subdivisions or private sources; and

(vi) Other requirements as may be required
by the Secretary.

(2)  Creation of a Board of Directors composed of
a member of the General Assembly, neighborhood residents,