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§ 4-1005. Maximum grant amounts

West's Annotated Code of MarylandHousing and Community Development

West's Annotated Code of Maryland
Housing and Community Development (Refs & Annos)
Division I. Housing and Community Programs [Titles 1-11] (Refs & Annos)
Title 4. Division of Development Finance (Refs & Annos)
Subtitle 10. Neighborhood Housing Services Fund (Refs & Annos)
MD Code, Housing & Community Development, § 4-1005
§ 4-1005. Maximum grant amounts
Currentness
One-third of budget or $50,000
(a)(1) Each eligible neighborhood corporation may apply for a grant in an amount up to $50,000 that does not exceed one-third of its annual operating budget.
(2) Each umbrella corporation may apply for a grant for each program under its supervision in an amount up to $50,000 that does not exceed one-third of the annual operating budget of the program.
Pro rata reduction required
(b) If the amount requested by eligible applicants in a fiscal year exceeds the amount of the Fund, the Secretary shall reduce each grant pro rata so that the Fund amount appropriated for that fiscal year is not exceeded.

Credits

Added by Acts 2005, c. 26, § 2, eff. Oct. 1, 2005.
MD Code, Housing & Community Development, § 4-1005, MD HOUS & CMTY DEV § 4-1005
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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