Ch. 311                                    LAWS OF MARYLAND

legislative intent that this subtitle would have been adopted if
the unconstitutional provision had not been included therein.

[13-121.] 6-121.

All laws or parts of laws of the State of Maryland, general
and local, inconsistent with the provisions of this subtitle, are
repealed to the extent of such inconsistency.

Subtitle [3.] 2. Day Care Facilities Loan Guarantee Fund

[13-301.] 6-201.

There is a Day Care Facilities Loan Guarantee Fund
administered by the Department [of Economic and Community
Development].

[13-302. ] 6-202.

In this [subheading] SUBTITLE, "Department" means the
Department of Economic and [Community] EMPLOYMENT Development.

[13-303.] 6-203.

(a)  The Department may contract with a nonprofit
organization to operate and manage the Fund under the provisions
of this [subheading] SUBTITLE.                                                     

(b)  The Fund shall be used as a nonlapsing revolving fund
to guarantee loans for the expansion or development of day care
facilities in this State.

[13-304.] 6-204.

(a)  All receipts designated for the Day Care Facilities
Loan Guarantee Fund shall be placed in the Fund and administered
by the Department including:

(1)  Premiums for guaranteeing loans; and

(2)  Income from investments that the State Treasurer,
on instruction of the Department makes for the Department under
this [subheading] SUBTITLE.

(b)  The    Fund shall be used to pay all expenses and
disbursements     authorized by the Department for financing,
expansion, or development of group or family day care facilities
in this State, including:

(1)  Guaranty payments required by loan defaults; and

(2)  Expenses for administrative, legal, actuarial,
and other services.

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