There is a Maryland Affordable Housing Trust Fund.

The Board shall use the Fund to make awards to: help acquire, build, rehabilitate, or preserve affordable housing; help nonprofit organizations develop affordable housing; and help promote affordable housing by contributing to pay the operating expenses of housing developments. 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.

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

The Fund consists of: money that the Board receives from any public or private source, including a gift, grant, or legacy; interest earned on Trust accounts held by title insurers and their agents under § 22–105 of the Insurance Article; investment earnings of the Fund; and repayments of principal or payments of interest on loans from the Fund.

The Board may solicit money for the Fund from any source.

Money in the Fund shall be invested in the same way as other State money.