Maryland Housing and Community Development Section 6-213

Article - Housing and Community Development

§ 6-213.

      (a)      In this section, "Fund" means the Community Legacy Financial Assistance Fund.

      (b)      There is a Community Legacy Financial Assistance Fund.

      (c)      The Fund shall be used to carry out this subtitle.

      (d)      (1)      The Secretary shall administer the Fund in accordance with the recommendations of the Board.

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

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

      (f)      The Fund consists of:

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

            (2)      earnings from the investment of money in the Fund;

            (3)      repayments and prepayments of financial assistance provided by the Program; and

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

      (g)      Notwithstanding any other law, the State Treasurer may invest money in the Fund in the same way as money is invested by the State Retirement and Pension System.



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