Ch. 5

2003 LAWS OF MARYLAND

THE ACCOUNT CONSISTS OF MONEY APPROPRIATED IN THE STATE BUDGET TO
THE ACCOUNT.

(D)     USE OF MONEY

THE BOARD OF PUBLIC WORKS MAY AWARD A LOAN FROM THE ACCOUNT TO A
VOLUNTEER COMPANY TO ASSIST WITH UP TO 75% OF THE COST OF:

(1)      PURCHASING OR REFURBISHING EQUIPMENT; AND

(2)      UPGRADING OR REPLACING FACILITIES NEEDED TO STORE
EQUIPMENT.

(E)     PROHIBITION ON REDUCTION OF LOCAL FUNDING.

A LOCAL GOVERNMENT MAY NOT REDUCE THE AMOUNT OF MONEY THAT THE
VOLUNTEER COMPANY WOULD OTHERWISE BE ENTITLED TO RECEIVE FROM THE
LOCAL GOVERNMENT BECAUSE OF STATE MONEY PROVIDED UNDER THIS SECTION.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 38A, § 46E.

In subsection (c) of this section, the phrase "to the Account" is added for
consistency with similar provisions throughout this article that relate to
the composition of funds.

In the introductory language of subsection (d) of this section, the former
phrase "to provide a loan" is deleted as surplusage.

In subsection (d)(1) of this section, the word "equipment" is substituted for
the former word "apparatus" for consistency with terminology used
throughout this subtitle and this title.

In subsection (e) of this section, the reference to "this section" is
substituted for the former reference to "this Account" for clarity and
consistency with § 8-204(f)(2)(ii) of this subtitle.

Defined term: "Volunteer company" § 8-201

8-207. SAME — LOAN REQUESTS.

(A) RESPONSIBILITIES OF ASSOCIATION.

FOR THE PURPOSE OF MAKING LOANS UNDER § 8-206 OF THIS SUBTITLE, THE
ASSOCIATION SHALL:

(1)      DEVELOP LOAN CRITERIA;

(2)      DEVELOP LOAN TERMS, INCLUDING INTEREST RATES;

(3)      ESTABLISH A LOW INTEREST REVOLVING LOAN ACCOUNT BOARD;
AND

(4)      RECOMMEND TO THE BOARD OF PUBLIC WORKS THE APPROVAL OR
DENIAL OF LOANS.

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