WILLIAM DONALD SCHAEFER, Governor                   Ch. 248

(A)  THE DIRECT LOAN FUND SHALL BE USED AS A NONLAPSING
REVOLVING FUND TO MAKE DIRECT LOANS FOR THE EXPANSION OR
DEVELOPMENT OF CHILD CARE FACILITIES IN THIS STATE.

(B)  THE SECRETARY OF THE DEPARTMENT MAY DELEGATE THE
AUTHORITY TO APPROVE DIRECT LOANS TO ANY BOARD WHICH EXISTS OR
MAY BE CREATED WITHIN THE DEPARTMENT.

6-2A-04.

(A)  ALL RECEIPTS DESIGNATED FOR THE DIRECT LOAN FUND SHALL
BE PLACED IN THE DIRECT LOAN FUND AND ADMINISTERED BY THE
DEPARTMENT INCLUDING:

(1)  MONEYS APPROPRIATED BY THE STATE TO THE DIRECT
LOAN FUND;

(2)  PREMIUMS, FEES, INTEREST PAYMENTS, AND PRINCIPAL
PAYMENTS ON DIRECT LOANS;

(3)  INCOME FROM INVESTMENTS THAT THE STATE TREASURER,
ON INSTRUCTION OF THE DEPARTMENT, MAKES FOR THE DEPARTMENT UNDER
THIS SUBTITLE;

(4)  PROCEEDS FROM THE SALE, DISPOSITION, LEASE, OR
RENTAL OF COLLATERAL RELATING TO DIRECT LOANS; AND

(5)  ANY OTHER MONEYS MADE AVAILABLE TO THE DIRECT
LOAN FUND.

(B)  THE DIRECT LOAN FUND SHALL BE USED TO PAY ALL EXPENSES
AND DISBURSEMENTS AUTHORIZED BY THE DEPARTMENT FOR ADMINISTERING
THE DIRECT LOAN FUND, AND FINANCING THE EXPANSION OR DEVELOPMENT
OF CHILD CARE FACILITIES IN THIS STATE, INCLUDING, BY WAY OF
EXAMPLE:

(1)  ADVANCES OF LOAN PROCEEDS FOR DIRECT LOANS; AND

(2)  EXPENSES FOR ADMINISTRATIVE, LEGAL, ACTUARIAL,
TECHNICAL ASSISTANCE, AND OTHER SERVICES.

(C)  IN MAKING DIRECT LOANS UNDER THIS SUBTITLE,
CONSIDERATION SHALL BE GIVEN TO:

(1)  GEOGRAPHIC DISTRIBUTION;

(2)  COMMUNITY NEED; AND

(3)  COMMUNITY INCOME, WITH PRIORITY GIVEN TO THOSE
COMMUNITIES WITH THE LOWEST MEDIAN FAMILY INCOME.

6-2A-05.

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