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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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HOUSING AND COMMUNITY DEVELOPMENT |
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DIVISION I. HOUSING AND COMMUNITY PROGRAMS. |
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TITLE 4. DIVISION OF DEVELOPMENT FINANCE |
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SUBTITLE 9. MARYLAND HOUSING REHABILITATION PROGRAM |
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PART I. IN GENERAL |
§ 4-907. Money for operations; reallocations
Latest version.
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(a) Money for operations. -- The Regular Rehabilitation Program and the Special Rehabilitation Program shall operate with money in the Special Loan Programs Fund and other money available to the Department for these programs.
(b) Reallocation. --
(1) If the applications that qualify for a Program loan under the Regular Rehabilitation Program or a special loan program do not commit all money appropriated to that loan program within 6 months after the appropriation, the Department may reallocate the remaining appropriated money to any other program financed by the Special Loan Programs Fund.
(2) In like circumstances, the Department may reallocate money appropriated to the Nonprofit Rehabilitation Program or the Multifamily Rehabilitation Program to any other program financed by the Rental Housing Programs Fund.