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Session Laws, 1988
Volume 770, Page 5517   View pdf image
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WILLIAM DONALD SCHAEFER, Governor
shown.

(2)  [(b)] Any Private Activity Bond for which the fully
executed Information Report filed or to be filed with the
IRS or the Section 14-107 Certificate, if applicable, is not
received in accordance with this Section shall be deemed not
to have received an allocation of the Maryland State
Ceiling.

(3)  [(c)] The Secretary may require earlier filing of
the final or draft Information Report and any other forms or
reports that the Secretary considers necessary or desirable.

J. [Section 10.] Certifications by Secretary.

[In order to show compliance with the Code and at the
request of an Issuer or its bond counsel made in connection
with the issuance of any bonds requiring an allocation by
such Issuer, the Secretary may certify to the best of his
knowledge, information and belief as of the date of such
certification the following:

(1)  the allocation to such issuer of a portion of the
Maryland State Ceiling for such bond issuance;

(2)  the continuing effect of such allocation;

(3)  the fact that the total allocations have been made
in accordance with Section 146 of the Code; and

(4)  any other similar or related matters that may
reasonably be requested by such Issuer or its bond counsel
in order to establish the existence of a valid allocation
for the proposed bond issuance and to establish that the
Maryland State Ceiling has not been exceeded.] AT THE
REQUEST OF ANY ISSUER OR ITS BOND COUNSEL MADE IN CONNECTION
WITH THE ISSUANCE OF ANY BONDS, AND IN ORDER TO SHOW
COMPLIANCE WITH THE REQUIREMENTS OF THE CODE, THE SECRETARY
OR SUCH PERSON AS THE SECRETARY SHALL DESIGNATE BY WRITTEN
ORDER MAY ISSUE SUCH CERTIFICATIONS AS MAY BE REASONABLY
REQUIRED IN ORDER TO ESTABLISH THE EXISTENCE OF A VALID
ALLOCATION FOR THE PROPOSED BOND ISSUANCE AND TO ESTABLISH
THAT THE MARYLAND STATE CEILING HAS NOT BEEN EXCEEDED, AND
THE SECRETARY OR SUCH PERSON DESIGNATED BY THE SECRETARY IN
ACCORDANCE WITH THIS SECTION SHALL BE THE STATE OFFICIAL
DESIGNATED BY STATE LAW FOR THE PURPOSE OF CERTIFYING IN
CONNECTION WITH THE INFORMATION REPORT REQUIRED BY SECTION
149 OF THE CODE THAT THE BONDS INCLUDED IN AN ISSUE MEET THE
REQUIREMENTS OF SECTION 146 OF THE CODE.

K. [Section 11.] Housing Credits. The low-income housing
tax credit authority limitation pursuant to Section 252 of
the Code is hereby allocated to the Department of [Economic]
HOUSING and Community Development. The Secretary of Housing

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Session Laws, 1988
Volume 770, Page 5517   View pdf image
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