§ 4-2006

Maryland § 4-2006

• Jurisdiction: Maryland
• Article ghs: Housing and Community Development
• Title: 4

Text

(a) There is an Energy–Efficient Homes Construction Fund.

(b) The Department shall administer the Fund.

(c) (1) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.

(2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.

(d) The Fund consists of:

(1) money appropriated in the State budget to the Fund;

(2) repayments or prepayments of principal and payments of interest on loans made under the Energy–Efficient Homes Construction Loan Program;

(3) investment earnings of the Fund; and

(4) any other money from any other source accepted for the benefit of the Fund.

(e) The Department may use the Fund only to:

(1) pay expenses of the Program;

(2) provide credit enhancement under the Program; and

(3) make or purchase loans under the Program.

(f) (1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.

(2) Any investment earnings of the Fund shall be paid into the Fund.