Ch. 222                                           LAWS OF MARYLAND

rehabilitation of elderly rental housing PROJECTS or the
conversion of existing rental housing TO ELDERLY RENTAL HOUSING
PROJECTS for occupancy by elderly households.

2-808.

(a) The Administration shall review applications for loans
submitted by private or nonprofit sponsors, counties,
municipalities, or local housing agencies established under
Article 44A of the Code on behalf of sponsors of proposed [new]
ACQUISITION, construction, or [substantial] rehabilitation of, or
conversion [for] TO, elderly rental housing PROJECTS.

SECTION 2. AND BE IT FURTHER ENACTED, That, on or before
November 1, 1989, the Department of Housing and Community
Development shall provide a written report to the Legislative
Policy Committee and the Department of Fiscal Services on the
consolidation of loan programs into the Rental Housing Programs
Fund, the Special Loan Programs Fund, and the Homeownership
Programs Fund. The report shall be a portfolio review and shall
include information regarding any transfer or proposed transfer
of moneys between funds, the type and number of projects served,
income and interest rates established, default rates, geographic
distribution of funds, administrative costs, and recommendations
regarding maximum limits on appropriations to the three funds and
maximum limits on the total amount of outstanding loans
allowable.

SECTION 2. 3. AND BE IT FURTHER ENACTED, That § 2-805(a)(l)
and (2) and the amendments to §§ 2-801(d) and 2-805(c) shall take
effect July 1, 1989, contingent on the taking effect of Chapters

___ of the Acts of the General Assembly of 1989

(S.B.__/H.B.___) (H.B. 1432 and H.B. 619) (91r0888 and

91r0887), and if Chapters ___ do not become effective, §

2-805(a)(l) and (2) and the amendments to §§ 2-801(d) and
2-805(c) of this Act shall be null and void without the necessity
of further action by the General Assembly.

SECTION 3. 4. AND BE IT FURTHER ENACTED, That § 2-805(a)(3)
and (d) shall take effect July 1, 1989, contingent on the taking

effect of Chapters ___ of the Acts of the General Assembly of

1989 (S.B. ____/H.B.____) (H.B. 1432, H.B. 619, and H.B. 555)

(91r0888, 91r0887, and 91r0981), and if Chapters ___ do not

become effective § 2-805(a)(3) and (d) of this Act shall be null
and void without the necessity of further action by the General
Assembly.

SECTION 4. 5. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1989.

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