HARRY HUGHES, Governor                                      4007

13-606.

(A)  TO THE EXTENT CONSISTENT WITH THE PROVISIONS OF THIS
SUBTITLE, THE CORPORATION SHALL EXERCISE THE POWERS OF A NONSTOCK
CORPORATION UNDER TITLE 3, SUBTITLE 2 OF THE CORPORATIONS AND
ASSOCIATIONS ARTICLE.

(B)  THE CORPORATION SHALL MANAGE AND ADMINISTER THE
MARYLAND RENTAL HOUSING RESOURCE PROGRAM AND THE MARYLAND RENTAL
HOUSING RESOURCE FUND.

(C)  THE CORPORATION SHALL ENSURE THAT GRANTS AND CONTRACTS
AWARDS MADE UNDER THIS SUBTITLE PROVIDE THE MOST STABLE,
ECONOMICAL, AND EFFECTIVE DELIVERY OF ASSISTANCE AND THAT
ELIGIBLE CLIENTS IN ALL AREAS OF THE STATE HAVE ACCESS TO THIS
ASSISTANCE. NO POLITICAL TEST OR POLITICAL QUALIFICATION MAY BE
USED IN SELECTING OR MONITORING ANY GRANTEE RECIPIENT OF
FINANCIAL ASSISTANCE UNDER THIS SUBTITLE.

(D)  THE CORPORATION MAY REQUIRE FROM ANY GRANTEE RECIPIENT:

(1)  REPORTS IT DEEMS NECESSARY REGARDING ACTIVITIES
CARRIED OUT UNDER THIS SUBTITLE;

(2)  RECORDS OF FUNDS PROVIDED; AND

(3)  THAT THE CORPORATION HAVE ACCESS TO RECORDS AT
ALL REASONABLE TIMES FOR THE PURPOSE OF ENSURING COMPLIANCE WITH
THE GRANT OR CONTRACT OR THE TERMS AND CONDITIONS UNDER WHICH
FINANCIAL ASSISTANCE WAS PROVIDED.

(E)  THE CORPORATION SHALL:

(1)  ADOPT PROCEDURES FOR ADMINISTERING THIS PROGRAM;

(2)  MONITOR AND OPERATE THE PROGRAM;

(3)  CONTRACT WITH PUBLIC AND PRIVATE ORGANIZATIONS TO
OPERATE THE PROGRAM;

(4)  ADOPT POLICIES TO ENSURE THAT PROPERTIES
CONSTRUCTED OR REHABILITATED UNDER THIS PROGRAM ARE MADE
AVAILABLE FOR RENTAL TO LOW INCOME HOUSEHOLDS IN ALL REGIONS OF
THE STATE;

(5)  (I) MAKE ALLOCATIONS TO EACH SUBDIVISION IN
PROPORTION TO THE INTEREST INCOME TRANSFERRED TO THE PROGRAM FROM
PROPERTIES IN THAT SUBDIVISION.

(II) TO THE EXTENT THAT ANY SUBDIVISION'S
CONTRIBUTION TO THE PROGRAM CANNOT BE DETERMINED, OR THAT ANY
ALLOCATED FUNDS HAVE NOT BEEN DEDICATED WITHIN 1 YEAR OR EXPENDED
WITHIN 2 YEARS OF THAT ALLOCATION, THOSE FUNDS SHALL REVERT TO
THE CORPORATION TO BE REALLOCATED UNDER THE PROVISIONS OF THE
PROGRAM;