3642

VETOES

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1986.

May 27, 1986
The Honorable Melvin A. Steinberg
President of the Senate
State House
Annapolis, Maryland 21404

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed Senate Bill 269.

This bill assists nonprofit group home sponsors to buy and
modify homes through loans from the Maryland Home Financing
Program at a preferred interest rate to provide group homes for
certain persons with special housing needs.

House Bill 469, which was passed by the General Assembly and
signed by me on May 27, 1986, accomplishes the same purpose.
Therefore, it is not necessary for me to sign Senate Bill 269.

Sincerely,
Harry Hughes
Governor

Senate Bill No. 269
AN ACT concerning

Housing - Maryland Home Financing Program

FOR the purpose of assisting nonprofit group home sponsors to buy
and modify homes through loans from the Maryland Home
Financing Program at a preferred interest rate to provide
group homes for certain persons with special housing needs;
specifying the qualifications and terms of loans to
nonprofit group home sponsors; requiring the Department of
Economic and Community Development to adopt regulations
concerning limits on return on equity and equity
participation agreements with nonprofit group home sponsors;
and generally relating to the Maryland Home Financing
Program.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 13-301, 13-302, 13-306, 13-307, 13-311, 13-313, and

13-315
Annotated Code of Maryland