Section 10-202 - Purposes of Fund. - Maryland Statutes

§ 10-202. Purposes of Fund.
 

(a)  Awards.- The Board shall use the Fund to make awards to: 

(1) help acquire, build, rehabilitate, or preserve affordable housing; 

(2) help nonprofit organizations develop affordable housing; and 

(3) help promote affordable housing by contributing to pay the operating expenses of housing developments. 

(b)  Operating and staffing expenses.- In any fiscal year, the Board may use up to 5% of the Fund to pay actual operating and staffing expenses directly related to the activities of the Trust. 
 

[An. Code 1957, art. 83B, § 11-105(a); 2005, ch. 26, § 2.]