LAWS OF MARYLAND

4-510.

(A)  THE FUND SHALL OPERATE AS A CONTINUING, NONLAPSING,
SPECIAL FUND THAT CONSISTS OF MONEYS APPROPRIATED BY THE STATE TO
THE PROGRAM.

(B)  (1) THE DEPARTMENT SHALL USE THE FUND TO PROVIDE
FINANCIAL ASSISTANCE UNDER THE PROGRAM AND TO PAY EXPENSES OF THE
PROGRAM.

(2) UPON ISSUANCE OF A BINDING COMMITMENT TO PROVIDE
FINANCIAL ASSISTANCE, AN AMOUNT EQUAL TO THE COMMITMENT SHALL BE
TRANSFERRED FROM THE FUND TO THE DEPARTMENT.

(C)  (1) THE STATE TREASURER SHALL HOLD AND THE STATE
COMPTROLLER SHALL ACCOUNT FOR THE FUND.

(2) ANY REPAYMENT OF LOANS PROVIDED FROM THE FUND
SHALL BE PAID INTO THE FUND.

4-511.

(A)  A PERSON MAY NOT KNOWINGLY MAKE OR CAUSE TO BE MADE ANY
FALSE STATEMENT OR REPORT IN ANY DOCUMENT REQUIRED TO BE
FURNISHED TO THE DEPARTMENT BY ANY AGREEMENT RELATING TO
FINANCIAL ASSISTANCE.

(B)  A PERSON APPLYING FOR OR BENEFITING FROM FINANCIAL
ASSISTANCE UNDER THE PROGRAM MAY NOT KNOWINGLY MAKE OR CAUSE TO
BE MADE ANY FALSE STATEMENT OR REPORT FOR THE PURPOSE OF
INFLUENCING THE ACTION OF THE DEPARTMENT ON A LOAN APPLICATION OR
FOR THE PURPOSE OF INFLUENCING ANY ACTION OF THE DEPARTMENT
AFFECTING A LOAN ALREADY MADE.

(C)  ANY PERSON WHO VIOLATES ANY PROVISION OF SUBSECTION (A)
OR (B) OF THIS SECTION IS GUILTY OF A MISDEMEANOR AND ON
CONVICTION IS SUBJECT TO A FINE NOT EXCEEDING $50,000 OR
IMPRISONMENT NOT EXCEEDING 5 YEARS OR BOTH.

SECTION 2. AND BE IT FURTHER ENACTED, That the Department
of Housing and Community Development shall submit a progress
report on the Program to the General Assembly in accordance with
§ 2-1312 of the State Government Article by October 15, 1990,
which shall include the number of loans requested, the terms and
conditions of the loans, the number of waiver granted, and the
total number of loans made, and which shall also contain
suggestions for modifying the Program to obtain greater
efficiencies and increase effectiveness.

SECTION 2 SECTION 3. AND BE IT FURTHER ENACTED, That this
Act shall take effect July 1, 1988.

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Ch. 417