S.B. 810                                                  VETOES

[6-206.] 6-106.

Annually, the State Treasurer shall report to the Department as to:

(1)     The status of the money invested under this subtitle;

(2)     The market value of the assets in the Guarantee Fund as of the date of
the report; and

(3)     The interest received from investments during the period covered by the
report.

[6-207.] 6-107.

Subject to the restrictions of this subtitle, the Department, on application, may
provide a guarantee of a loan made to the applicant.

[6-208.] 6-108.

The Department may guarantee a loan made to an applicant only if:

(1)     The applicant meets the qualifications required by this subtitle; and

(2)     The loan to be guaranteed is to be used for expansion or financing of a
day care facility.

[6-209.] 6-109.

(a)     To apply for financial assistance, an applicant shall submit to the Department
an application on the form that the Department requires.

(b)     The application shall include:

(1)     A detailed description of the proposed or existing day care facility;

(2)     An itemization of known and estimated costs;

(3)     The total amount of investment required to expand or develop the day
care facility;

(4)     The funds available to the applicant without loan guarantee assistance
from the Department;

(5)     The amount of loan guarantee assistance sought from the Department;

(6)     Information that relates to the inability of the applicant to obtain the
financing necessary for the facility on reasonable terms through normal lending channels;

(7)     Information that relates to the financial status of the applicant,
including, if applicable:

(i) A current balance sheet;

(ii) A profit and loss statement; and

(iii) Credit references; and

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