2214

LAWS OF MARYLAND

Ch. 629

(3)  REQUIREMENTS FOR THE NUMBER OF BEDROOMS IN A
PROJECT FOR EACH INCOME RANGE;

(4)  LOAN TERMS, FEES, AND CHARGES;

(5)  INCENTIVES FOR NONPROFIT ORGANIZATIONS TO
PARTICIPATE IN THE PROGRAM INCLUDING RESERVING A PORTION OF THE
FUND FOR A PERIOD OF TIME FOR LOANS TO NONPROFIT ORGANIZATIONS
AND ALLOWING ADVANCE PAYMENT TO NONPROFIT ORGANIZATIONS FOR
CERTAIN DEVELOPMENT COSTS INCLUDING ARCHITECT'S, ENGINEER'S, AND
ATTORNEY'S FEES; AND

(6)  A PROCESS FOR SELECTION OF PROJECTS THAT ENSURES
A BROAD GEOGRAPHIC DISTRIBUTION OF FUNDS.

266MM-9.

(A)  A PERSON MAY NOT KNOWINGLY MAKE OR CAUSE ANY FALSE
STATEMENT OR REPORT TO BE MADE IN ANY DOCUMENT REQUIRED TO BE
FURNISHED TO THE DEPARTMENT BY ANY AGREEMENT RELATING TO A LOAN.

(B)  A PERSON APPLYING FOR A LOAN MAY NOT KNOWINGLY MAKE OR
CAUSE ANY FALSE STATEMENT OR REPORT TO BE MADE FOR THE PURPOSE OF
INFLUENCING THE ACTION OF THE ADMINISTRATION DEPARTMENT ON A LOAN
APPLICATION OR FOR THE PURPOSE OF INFLUENCING ANY ACTION OF THE
ADMINISTRATION DEPARTMENT AFFECTING A LOAN ALREADY MADE.

(C)  ANY PERSON WHO VIOLATES ANY PROVISION OF SUBSECTION   (A)
OR (B) OF THIS SECTION IS GUILTY OF A MISDEMEANOR AND ON
CONVICTION IS SUBJECT TO A FINE NOT EXCEEDING $50,000 OR
IMPRISONMENT NOT EXCEEDING FIVE YEARS OR BOTH.

Article - Financial Institutions

13-308.

(a)  The program shall operate as a continuing, nonlapsing,
special fund, that consists of moneys appropriated by the State
to the program.

(b)  The Department shall [use]:

(1)  USE the fund to make loans and to pay expenses of
the program (including reserves for anticipated future losses
directly related to the program) as provided in the annual budget
of the State or other act appropriating moneys; OR

(2)  TRANSFER MONEYS FROM THE FUND TO THE RENTAL
HOUSING PRODUCTION FUND UNDER SECTION 266MM-5 OF ARTICLE 41 OF
THE CODE AS PROVIDED IN THE BUDGET, IF SUFFICIENT MONEYS ARE
MAINTAINED IN THE PROGRAM TO MAKE LOANS TO INDIVIDUALS TO
PURCHASE HOMES, TAKING INTO ACCOUNT THE LENDING HISTORY UNDER THE
PROGRAM, OTHER RESOURCES, THE NUMBER OF INCOME ELIGIBLE
INDIVIDUALS, AND THE AVAILABILITY OF SUITABLE HOUSING STOCK.