Ch. 31

1997 LAWS OF MARYLAND

LOANS MAY BE MADE IN CONJUNCTION WITH, OR IN ADDITION TO, FINANCIAL
ASSISTANCE PROVIDED THROUGH OTHER STATE OR FEDERAL PROGRAMS.

REVISOR'S NOTE: This section formerly was Art. 41, § 10-906.

In subsection (f) of this section, the reference to "departmental" programs is
deleted in light of the comprehensive reference to "State" programs.

In subsections (b), (d)(2), and (e)(1) of this section, the references to the
"Maryland Energy" Administration are added for clarity.

The only other changes are in style.
9-2107. COMMUNITY ENERGY LOAN PROGRAM FUND.

(A) OPERATION; NATURE; COMPOSITION.

THE FUND IS A CONTINUING, NONLAPSING, SPECIAL FUND, THAT CONSISTS OF
MONEYS APPROPRIATED BY THE STATE TO THE PROGRAM, INCLUDING THE
ENERGY OVERCHARGE RESTITUTION TRUST FUND, MONEYS RECEIVED FROM
OTHER PUBLIC OR PRIVATE SOURCES, INTEREST EARNINGS ON THE FUND, AND
REPAYMENTS AND PREPAYMENTS OF PRINCIPAL AND INTEREST ON LOANS MADE
FROM THE FUND.

(B) MONEY RESERVED FOR SCHOOLS AND HOSPITALS.

(1) THE MARYLAND ENERGY ADMINISTRATION SHALL ANNUALLY
RESERVE A PORTION OF THE FUNDS AVAILABLE FOR FINANCIAL ASSISTANCE
UNDER THE PROGRAM FOR LOANS TO SCHOOLS AND HOSPITALS.

(2) IN A FISCAL YEAR IN WHICH REQUESTS FOR FINANCIAL ASSISTANCE
FROM SCHOOLS AND HOSPITALS ARE LESS THAN THE AMOUNT RESERVED UNDER
PARAGRAPH (1) OF THIS SUBSECTION, THE ADMINISTRATION MAY MAKE THE
UNENCUMBERED OR NONCOMMITTED PORTION OF THE RESERVE AVAILABLE TO
OTHER SPONSORS IN THE PROGRAM.

(C) USES.

THE MARYLAND ENERGY ADMINISTRATION MAY USE THE FUND TO PAY
EXPENSES OF THE PROGRAM AND TO PROVIDE LOANS TO ELIGIBLE SPONSORS AND
PROJECTS.

(D) ACCOUNTING; INVESTMENTS.

(1) THE STATE TREASURER SHALL HOLD AND THE STATE
COMPTROLLER SHALL ACCOUNT FOR THE FUND.

(2) THE FUND SHALL BE INVESTED AND REINVESTED AND ANY
EARNINGS SHALL BE PAID INTO THE FUND FOR USE IN THE PROGRAM.

(3) ANY REPAYMENT OF PRINCIPAL AND INTEREST ON LOANS MADE
FROM THE FUND SHALL BE PAID INTO THE FUND.

REVISOR'S NOTE: This section formerly was Art. 41, § 10-907.

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