§ 4–3003
Statutes in effect as of October 1, 2026.
Md. Code Ann., Hous. & Cmty. Dev. § 4-3003 (2026)
Title 4. Division of Development Finance
Subtitle 30. Housing Innovation Pilot Program
§ 4–3003LinkCopy Citation
(a)
A project qualifies as a housing innovation project if it provides new housing in which:
(1)
at least 20% of the units are set aside for households with a gross annual income of not more than 50% of the area median income for a household of like size; or
(2)
at least 40% of the units are set aside for households with a gross annual income of not more than 60% of the area median income for a household of like size.
(b)
The Department shall prioritize funding for projects that best meet the following guidelines:
(1)
the project does not use low–income housing tax credit equity or tax–exempt volume cap;
(2)
the affordable set–asides required under subsection (a) of this section remain restricted at elected levels for at least 99 years;
(3)
the project remains in public ownership;
(4)
the project includes a commitment to prevailing wage requirements; and
(5)
any portion of the units are set aside for educator workforce housing.