PARRIS N. GLENDENING, Governor                                 Ch. 119

Subtitle 5. MARYLAND STATE Appalachian [Regional Development

Program] HOUSING FUND

[4-502.] 4-501.

The Maryland State Appalachian Housing Fund is created as a nonlapsing,
revolving special fund into which shall be placed:

(1)     Receipts of the Department pursuant to [§ 4-501 of this subtitle] § 207
OR § 302 OF FROM THE APPALACHIAN REGIONAL COMMISSION CODE;

(2)     Income from investments that the State Treasurer makes pursuant to [§
4-504] § 4-503 of this subtitle; and

(3)     Any repayments of principal or interest on loans or site development
advances made pursuant to [§ 4-501 of this subtitle] § 207 OR § 302 OF THE
APPALACHIAN REGIONAL COMMISSION CODE BY THE DEPARTMENT UNDER THIS
SUBTITLE.

[4-503.] 4-502. .

The Maryland State Appalachian Housing Fund shall be expended by the
Department to fulfill its obligations under any contract or agreement authorized by [§
4-501 of this subtitle] § 207 OR § 302 OF WITH THE APPALACHIAN REGIONAL
COMMISSION CODE.

[4-504.] 4-503.

The State Treasurer shall invest the Maryland State Appalachian Housing Fund in
the manner provided by law with all interest earned or gains realized from such
investments to be credited to the Maryland State Appalachian Housing Fund.

SECTION 4. AND BE IT FURTHER ENACTED, That any employee, whether
classified or unclassified, of the Department of Housing and Community Development,
who, as of June 30, 1995, is assigned to the Forvm for Rural Maryland as established by
Executive Order 01.01.1994.14 is hereby transferred to the Forvm for Rural Maryland, as
established by Section 1 of this Act, effective July 1, 1995, without any change or loss of
rights or status except to the extent that such status would be inconsistent with the
provisions of Section 1 of this Act.

SECTION 5. AND BE IT FURTHER ENACTED, That any employee, whether
classified or unclassified, of the Department of Housing and Community Development,
who, as of June 30, 1995, is assigned to the Appalachian Regional Development Program,
other than the Maryland State Appalachian Housing Fund, and who is not transferred
under Section 4 of this Act, is hereby transferred to the Department of Economic and
Employment Development, effective July 1, 1995, without any change or loss of rights or
status.

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