Ch. 227

LAWS OF MARYLAND

[organizations) SPONSORS and allowing advance payment to
nonprofit [organizations] SPONSORS for certain development costs
including architect's, engineer's, and attorney's fees; and

(6) A process for selection of projects that ensures
a broad geographic distribution of funds.

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 § 2-505(a)(l)
and (2) of this Act and the amendments to §§ 2-501(d) and
2-505(c) shall take effect July 1, 1989, contingent on the taking

effect of Chapter _____ (S.B._______/H.B.____) (H.B. 585)

(91r0982) and Chapter _____ (S.B.____/H.B._____) (H.B. 1432)

(91r0888) of the Acts of the General Assembly of 1989, and if
each of those Chapters does not become effective, § 2-505(a)(l)
and (2) of this Act and the amendments to §§ 2-501(d) and
2-505(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 § 2-505(a)(3)
and (d) of this Act shall take effect July 1, 1989, contingent on

the taking effect of Chapter _____ (S.B.____/H.B.____) (H.B.

585) (91r0982), Chapter _____ (S.B._____/H.B._____) H.B.

1432) (91r0388), and Chapter _____ (S.B.___)/H.B._____) (91r

_____) (H.B. 555) of the Acts of the General Assembly of 1989,

and if each of those Chapters does not become effective, §
2-505(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, subject to
the provisions of Sections 2 and 3 of this Act, this Act shall
take effect July 1, 1989.

Approved May 5, 1989.

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