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PARRIS N. GLENDENING, Governor
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Ch. 132
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BY adding to
Article 83B - Department of Housing and Community Development
Section 2-1501 through 2-1509, inclusive, to be under the new subtitle "Subtitle
15. Self-Help Homeownership Technical Assistance Program"
Annotated Code of Maryland
(1998 Replacement Volume and 1999 Supplement)
BY repealing and reenacting, with amendments,
Article 83B - Department of Housing and Community Development
Section 11-103(c)
Annotated Code of Maryland
(1998 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article 83B - Department of Housing and Community Development
SUBTITLE 15. SELF-HELP HOMEOWNERSHIP TECHNICAL ASSISTANCE PROGRAM.
2-1501.
THE GENERAL ASSEMBLY FINDS AND DECLARES THAT:
(1) HOMEOWNERSHIP IS A STABILIZING FACTOR FOR COMMUNITIES
AND FAMILIES AND IS THE BEST WAY FOR LOW INCOME FAMILIES TO BUILD EQUITY
AND MOVE OUT OF POVERTY;
(2) THE AFFORD ABILITY OF HOMEOWNERSHIP HAS WORSENED OVER
THE LAST 20 YEARS BECAUSE INCOMES HAVE NOT KEPT PACE WITH THE RISING
COSTS OF HOMEOWNERSHIP;
(3) SELF-HELP HOUSING ASSISTS LOW INCOME HOUSEHOLDS TO MOVE
INTO HOMEOWNERSHIP, WHICH INCREASES THEIR FINANCIAL STABILITY;
(4) FAMILIES WORKING IN GROUPS TO COOPERATIVELY BUILD THEIR
HOMES ASSISTS IN CREATING STRONGER COMMUNITIES; AND
(5) THERE HAVE BEEN THREE SUCCESSFUL FEDERALLY FUNDED
SELF-HELP PROGRAMS IN MARYLAND AND MODELING A STATE SELF-HELP
OWNERSHIP PROGRAM ON A WELL-TESTED FEDERAL PROGRAM WILL INCREASE
HOMEOWNERSHIP OPPORTUNITIES FOR LOW INCOME HOUSEHOLDS ACROSS
MARYLAND.
2-1502.
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
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