# Sec. 10-296. Financing the Fund

Codified through Bill No. CB-018-2026, adopted May 12, 2026, effective July 24, 2026. Source: Municode, Supplement 2026 Update 2. Editorial notes and legislative history omitted.

## Sec. 10-296. Financing the Fund

Prince George's County, Md., Code § 10-296 (2026)

(a) Sources. The Fund shall be financed from:

  (1) current expense funds;

  (2) any contributions, donations, or appropriations by the United States, the State of Maryland, any other political jurisdiction, or any private entity;

  (3) interest income;

  (4) fees or other charges levied on loan or grant recipients;

  (5) 20% of the recordation tax collected or no less than $10 million; and

  (6) any other funds designated and provided by the County.

(b) Treatment. Monies provided by the County to the Fund under Subsection (a) of this Section shall be treated as a transfer to the Fund.

(c) Repayments and Recapitalization of the Fund. The Director of Finance, subject to the written agreement or contract under Section 10-304(f), shall deposit in the Fund all program income collected for principal and interest on the loans and any authorized loan charges and fees on transactions authorized under this Division.

(d) Non-lapsing. The Fund shall continue from year to year.

(e) Recordation Tax Contribution. The County Council may decrease the 20% amount from the recordation tax collected when there is a national recession declared by the federal government.

(f) Annual Report. The Director of the Department of Housing and Community Development ("Director"), or designee, shall prepare and provide an annual status report for presentation to the County Council by January 1 st of each year.