WILLIAM DONALD SCHAEFER, Governor

Ch. 274

REHABILITATION PROGRAM AS AUTHORIZED UNDER § 2-303 OF THIS
SUBTITLE;

(2)  REPAYMENTS AND PREPAYMENTS OF LOANS MADE UNDER
SUCH PROGRAMS, BOTH PRIOR TO AND AFTER JULY 1, 1989; AND

(3)  MONEYS TRANSFERRED TO THE FUND IN ACCORDANCE WITH
§§ 2-313(K), 2-505(D), 2-608(D), 2-805(D), AND 2-1006(E) OF THIS
TITLE.

[(b)] (C) The Department shall use the [fund] RENTAL
HOUSING PROGRAMS FUND AND THE SPECIAL LOAN PROGRAMS FUND to make
loans and to pay expenses of the [program] MARYLAND HOUSING
REHABILITATION PROGRAM including reserves for anticipated future
losses directly related to the program, as provided in the annual
budget of the State or other act appropriating moneys.

[(c)] (D) The State Treasurer shall hold and the State
Comptroller shall account for the [fund] RENTAL HOUSING PROGRAMS
FUND AND THE SPECIAL LOAN PROGRAMS FUND. The [fund] FUNDS shall
be invested and reinvested in the same manner as other State
funds. Any investment earnings of the [fund] FUNDS shall be paid
into the [fund] FUNDS.

[(d)] (E) The State may appropriate to the [fund] FUNDS, in
the State budget, all or part of the moneys received as
repayments of principal or interest on all loans made by the
[program] MARYLAND HOUSING REHABILITATION PROGRAM at any time.
The appropriation may be increased by budget amendment. The
amount of repayments so appropriated for the purpose of making
loans UNDER THE MARYLAND HOUSING REHABILITATION PROGRAM may not
exceed $12,000,000 annually. The State may not appropriate
repayments of principal and interest to the [program] MARYLAND
HOUSING REHABILITATION PROGRAM to the extent that loans expected
to be made with the moneys appropriated would cause the total
principal amount of loans outstanding to exceed $100,000,000.

[(e)] (F) If there is no appropriation to the [fund] FUNDS
in the State budget of part or all of the moneys received as
repayments of principal or interest on the loans MADE UNDER THE

MARYLAND HOUSING REHABILITATION PROGRAM, the moneys not

appropriated shall be:

(1) Credited tot he Annuity Bond Fund to be used to
pay the principal of or interest on moneys borrowed by the State
and appropriated to the program;

(2) Paid into the General Fund of the State, to
reimburse the State for administrative and other costs of the
program previously paid from the fund.

[(f)] (G)  Prepayments of principal of a loan may be used to
make additional loans under the [program] MARYLAND HOUSING

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