Ch. 115

1995 LAWS OF MARYLAND

(3) MONEYS TRANSFERRED TO THE FUND FROM ANY OTHER FUND AS
PROVIDED FOR IN THIS TITLE.

(B)     THE DEPARTMENT SHALL USE THE FUND TO PROVIDE FINANCIAL
ASSISTANCE TO SMALL BUSINESSES AND TO PAY EXPENSES OF THE PROGRAM.

(C)     THE STATE TREASURER SHALL HOLD AND THE STATE COMPTROLLER
SHALL ACCOUNT FOR THE NEIGHBORHOOD BUSINESS DEVELOPMENT FUND- THE
FUND SHALL BE INVESTED AND REINVESTED. ANY INVESTMENT EARNINGS SHALL
BE PAID INTO THE FUND.

(D)     AT ANY TIME FOLLOWING THE FIRST 8 MONTHS OF ANY FISCAL YEAR,
THE DEPARTMENT MAY TRANSFER, SUBJECT TO APPROVAL OF THE LEGISLATIVE
POLICY COMMITTEE AND SUBJECT TO THE PROVISIONS OF § 7-209 OF THE STATE
FINANCE AND PROCUREMENT ARTICLE, UNENCUMBERED MONEYS IN THE
NEIGHBORHOOD BUSINESS DEVELOPMENT FUND TO ANY OTHER FUND
ESTABLISHED UNDER THIS TITLE.

2-1308.

(A)     A PERSON MAY NOT KNOWINGLY MAKE OR CAUSE ANY FALSE
STATEMENT OR REPORT TO BE MADE IN ANY DOCUMENT REQUIRED TO BE
FURNISHED TO THE DEPARTMENT BY ANY AGREEMENT RELATING TO A LOAN.

(B)     A PERSON APPLYING FOR FINANCIAL ASSISTANCE MAY NOT KNOWINGLY
MAKE OR CAUSE ANY FALSE STATEMENT OR REPORT TO BE MADE FOR THE
PURPOSE OF INFLUENCING THE ACTION OF THE DEPARTMENT ON AN APPLICATION
OR FOR THE PURPOSE OF INFLUENCING ANY ACTION OF THE DEPARTMENT
AFFECTING FINANCIAL ASSISTANCE ALREADY PROVIDED.

(C)     ANY PERSON WHO VIOLATES ANY PROVISION OF SUBSECTION (A) OR (B)
OF THIS SECTION IS GUILTY OF A MISDEMEANOR AND ON CONVICTION IS SUBJECT
TO A FINE NOT EXCEEDING $50,000 OR IMPRISONMENT NOT EXCEEDING 5 YEARS OR
BOTH.

SECTION 2. AND BE IT FURTHER ENACTED, That the Department of
Housing and Community Development shall report in writing to the House Economic
Matters Committee and the Senate Finance Committee by December 1. 1997, on the
implementation of this Act, with particular attention given to the geographic
disbursement of funds.

SECTION 3. AND BE IT FURTHER ENACTED. That if any provision of this
Act or the application thereof to any person or circumstance is held invalid for any reason
in a court of competent jurisdiction, the invalidity does not affect other provisions or any
other application of this Act which can be given effect without the invalid provision or
application, and for this purpose the provisions of this Act are declared severable.

SECTION 2. 4. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 1995.

Approved May 9, 1995.

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