Ch. 274

LAWS OF MARYLAND

REHABILITATION PROGRAM. Any moneys not so used within 12 months

from the date of receipt of such prepayments shall be applied
as provided in subsection [(e)] (F) of this section MONEY THAT IS
RECEIVED AS REPAYMENTS OF PRINCIPAL OR INTEREST ON THE LOANS MADE
UNDER THE MARYLAND HOUSING REHABILITATION PROGRAM AND THAT IS NOT
APPROPRIATED IN THE STATE BUDGET MAY BE CREDITED TO THE ANNUITY
BOND FUND, TO BE USED TO PAY THE PRINCIPAL OF OR INTEREST ON
MONEY BORROWED BY THE STATE AND APPROPRIATED TO THE MARYLAND
HOUSING REHABILITATION PROGRAM.

[(g)] (H) The Department shall report to the Governor
and, subject to § 2-1312 of the State Government Article, to the
General Assembly before January 1 of each year the financial
status of the program and a summary of its operations for the
preceding fiscal year.

[(h)] (I) Each of the special loan programs shall
operate with moneys appropriated by the State to the [fund
specifically for each such program] SPECIAL LOAN PROGRAMS FUND,
and such other moneys or grant funds available to the Department
for the special loan programs. In the event the number of
applications which qualify for a special loan under the
requirements of a particular special loan program are
insufficient to commit all moneys appropriated to the program
within 6 months of the appropriation, then the Department may
reallocate any remaining moneys appropriated to that program to
any other [special loan program or the Maryland Housing
Rehabilitation Program] PROGRAM FUNDED OUT OF THE SPECIAL LOAN
PROGRAMS FUND. MONEYS APPROPRIATED TO THE NONPROFIT
REHABILITATION PROGRAM AND THE MULTIFAMILY REHABILITATION PROGRAM
MAY, UNDER THE SAME CIRCUMSTANCES, BE REALLOCATED BY THE
DEPARTMENT TO ANY OTHER PROGRAM FUNDED OUT OF THE RENTAL HOUSING
PROGRAMS FUND.

(J) (I) AT LEAST 25 PERCENT OF THE APPROPRIATION FOR THE
REGULAR REHABILITATION PROGRAM SPECIAL LOAN PROGRAMS FUND SHALL
BE RESERVED BY THE DEPARTMENT FOR THE FIRST 6 MONTHS OF EACH
FISCAL YEAR FOR MAKING LOANS FOR THE REHABILITATION OF BUILDINGS
PROVIDING 4 OR LESS DWELLING UNITS.

(K) (J) AT ANY TIME FOLLOWING THE FIRST 8 MONTHS OF ANY
FISCAL YEAR, THE DEPARTMENT MAY TRANSFER, SUBJECT TO THE
PROVISIONS OF § 7-209 OF THE STATE FINANCE AND PROCUREMENT
ARTICLE, UNENCUMBERED MONEYS IN THE RENTAL HOUSING PROGRAMS FUND
OR THE SPECIAL LOAN PROGRAMS FUND TO ANY OTHER FUND ESTABLISHED
UNDER THIS TITLE, EXCEPT AS MAY OTHERWISE BE PROVIDED IN THE
STATE BUDGET.

3-206.

(A) IN THIS SECTION, "DEVELOPMENT COSTS" HAS THE MEANING
STATED UNDER § 2-203(G) OF THIS ARTICLE.---------------------------

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