WILLIAM DONALD SCHAEFER, Governor                    Ch. 598

13-803.

(A)  EXCEPT AS SPECIFICALLY PROVIDED IN THIS SECTION, AN
ISSUER RECEIVING AN ALLOCATION UNDER THIS SECTION MAY NOT
TRANSFER ALL OR ANY PORTION OF ITS ALLOCATION TO ANY OTHER
ISSUER.

(B)  (1) ANY COUNTY MAY, AT ANY TIME IN ITS SOLE DISCRETION,
REALLOCATE ALL OR ANY PORTION OF ITS ALLOCATION TO ANY LOCAL
ISSUER (INCLUDING ANY AGENCY OF THE COUNTY) WITHIN ITS
JURISDICTION.

(2) ANY COUNTY WHICH HAS REALLOCATED ALL OR ANY
PORTION OF ITS ALLOCATION TO A LOCAL ISSUER MAY REDUCE OR FURTHER
REALLOCATE SUCH REALLOCATION AFTER 30 DAYS' PRIOR WRITTEN NOTICE
TO, OR AFTER RECEIVING THE CONSENT OF, SUCH LOCAL ISSUER, UNLESS
SUCH LOCAL ISSUER HAS USED SUCH REALLOCATION FOR THE ISSUANCE OF
BONDS PRIOR TO THE EFFECTIVE DATE OF SUCH REDUCTION OR FURTHER
REALLOCATION.

(C)  (1) NOTWITHSTANDING ANY APPLICABLE LAW, CHARTER,
ORDINANCE, OR OTHER CORPORATE DOCUMENT, ANY ISSUER RECEIVING AN
ALLOCATION MAY TRANSFER ALL OR ANY PORTION OF ITS ALLOCATION TO A
STATE ISSUER FOR THE ISSUANCE OF BONDS.

(2)  WITH THE APPROVAL OF THE SECRETARY, ANY STATE
ISSUER MAY TRANSFER TO ANY OTHER ISSUER ALL OR ANY PORTION OF ANY
ALLOCATION RECEIVED BY OR TRANSFERRED TO IT FOR ANY PURPOSE.
HOWEVER, THE SECRETARY MAY PLACE ANY CONDITIONS ON ANY SUCH
TRANSFER AS THE SECRETARY DEEMS APPROPRIATE.

(3)   ANY HOUSING BOND ALLOCATION TRANSFERRED TO THE
COMMUNITY DEVELOPMENT ADMINISTRATION BY A LOCAL ISSUER MAY BE
TRANSFERRED TO ANY OTHER ISSUER ONLY WITH THE APPROVAL OF THE
SECRETARY AND THE LOCAL ISSUER THAT TRANSFERRED THE ALLOCATION TO
THE COMMUNITY DEVELOPMENT ADMINISTRATION.

(3) THE SECRETARY MAY AT ANY TIME REALLOCATE ANY SUCH
TRANSFERRED ALLOCATIONS IN THE SECRETARY'S SOLE DISCRETION.

13-804.

(A) ON SEPTEMBER 15 OF EACH CALENDAR YEAR, EACH ISSUER
SHALL SUBMIT A REPORT, APPROVED IN WRITING BY ITS BOND COUNSEL,
TO THE SECRETARY CONTAINING THE FOLLOWING INFORMATION:

(1)  THE AMOUNT OF THE TOTAL ALLOCATION OF THE
MARYLAND STATE CEILING ALLOCATED IN THAT YEAR TO THE ISSUER PRIOR
TO SEPTEMBER 15;

(2)  THE AMOUNT AND TYPE OF BONDS ISSUED IN THAT YEAR
PURSUANT TO THE TOTAL ALLOCATION TO THE ISSUER IN THAT YEAR;

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