3644

VETOES

[(f)] (I) "Preferred interest rate" means the interest rate
that the Department sets periodically under § 13-307 of this
subtitle.

[(g)] (J) "Program" means the Home Financing Program.

[(h)] (K) "Region" means an area of the State comprising
one or more counties, established by the Department.

13-302.

The purpose of the program is to help disadvantaged and
low-income citizens of this State to buy homes through loans at a
preferred interest rate, AND TO HELP GROUP HOME SPONSORS BUY AND
MODIFY HOMES THROUGH LOANS AT A PREFERRED INTEREST RATE SO AS TO
PROVIDE GROUP HOMES FOR LOW-INCOME, ELDERLY, HANDICAPPED, AND
OTHER CITIZENS OF THIS STATE WITH SPECIAL HOUSING NEEDS.

13-306.

(a)  In addition to the specific powers granted and duties
imposed by this subtitle, the Department has the powers and
duties set forth in this section.

(b)  The Department shall:

(1)  Manage and supervise the program; and

(2)  Carry out the program in a manner that:

(i) Serves all of the areas of this State; and

(ii) Avoids creating or aggravating low-income
economic concentrations that adversely affect communities.

(c)  The Department shall:

(1)  Adopt policies to insure that loans are made only
to:

(I)   [individuals] INDIVIDUALS who cannot
otherwise finance the purchase of a home; AND

(II)  GROUP HOME SPONSORS WHO CANNOT OTHERWISE
FINANCE THE PURCHASE AND MODIFICATION OF A GROUP HOME;

(2)  Research and observe the mortgage market and
housing conditions in this State; and

(3)  Use federal programs that complement or
facilitate carrying out the program.

(d)  (1) The Department shall set:

(i) Reasonable minimum requirements of
creditworthiness; and