WILLIAM DONALD SCHAEFER, Governor Ch. 422

OVERSTATEMENT OF FINANCIAL CONDITION, IN A STATEMENT OR REPORT IN
OR REGARDING AN APPLICATION FOR A LOAN OR AFFECTING A LOAN
ALREADY MADE.

(2) ANY PERSON WHO VIOLATES ANY PROVISION OF THIS
SUBSECTION IS GUILTY OF A MISDEMEANOR AND ON CONVICTION IS
SUBJECT TO A FINE NOT EXCEEDING $5,000 OR IMPRISONMENT NOT
EXCEEDING 2 YEARS OR BOTH.

[5-613.

(a)  There is a Capital Grant Fund for Historic
Preservation. The Trust shall administer the Capital Grant Fund.
The Comptroller of the Treasury shall deposit in the Capital
Grant Fund those funds authorized by statute or budget allocation
to implement and encourage restoration and preservation of
historic and cultural properties and to implement the purposes
set forth in the other provisions of this subtitle. An
expenditure may not be made under this section unless the subject
property has been listed in or determined eligible for the
Maryland Register of Historic Properties. The Trust may expend
the amounts in the Capital Grant Fund, with the approval of the
Board of Public Works, for the following purposes:

(1)  Acquisition of property or partial interests in
property by the Trust for use for its own authorized purposes or
resale subject to appropriate preservation easements;

(2)  Preservation, restoration, rehabilitation, or
reconstruction of properties owned by the Trust, for use for its
own authorized purposes or possible resale subject to appropriate
preservation easements; and

(3)  Grants to nonprofit foundations or organizations,
political subdivisions, or individuals for the purpose of
acquiring, preserving, restoring, or rehabilitating properties or
structures, if the grant recipient conveys a preservation
easement to the Trust at the time the grant is made.

(b)  The Trust also may make grants, not to exceed 10
percent of all grants made by the Trust under this section, to
business entities for the purposes and pursuant to the conditions
set forth in subsection (a)(3) of this section.

(c)  If operating budget funds are appropriated for these
purposes, those operating funds may also be used by the Trust or
given as grants to nonprofit foundations or organizations,
political subdivisions, business entities or individuals for
historic preservation education and promotion, to include but not
limited to, planning, research, survey, and documentation as
authorized.

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