# Housing and Community Development (GHS)

## Title 4. Division of Development Finance

### Subtitle 5. Funds

#### Section 4-504

(a) In this section, "Fund" means the Rental Housing Fund.

(b) There is a Rental Housing Fund.

(c) The Department shall use the Fund to operate, make loans, and pay expenses of the Rental Housing Program, including reserves for anticipated future losses directly related to the Rental Housing Program, as provided in the State budget.

(d) The Department shall administer the Fund either directly or through the Administration.

(e) The Fund consists of:

  (1) money appropriated by the State for the Rental Housing Program under Sec. 4-402 of this title;

  (2) repayments and prepayments of loans made under the Rental Housing Program and from loan programs under this title that have been repealed;

  (3) money appropriated under Sec. 4-501(c) of this subtitle;

  (4) money transferred to the Fund in accordance with Sec.Sec. 4-502(e), 4-503(d), and 4-505(h) of this subtitle and Sec. 3-203(i) of this article;

  (5) funds received by the Department or the Administration from the federal government or other public or private sources;

  (6) investment earnings of the Fund; and

  (7) revenue distributed to the Fund under Sec. 2-605.2 of the Tax - General Article.

(f)

  (1) When the Department issues a binding commitment to make a loan, the Department shall withdraw from the Fund an amount equal to the commitment.

  (2) Subject to Sec. 7-209 of the State Finance and Procurement Article and except as otherwise provided in the State budget, after the first 8 months of a fiscal year the Department may transfer unencumbered money in the Fund to any other fund established under this title.

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Md. Code Ann., Hous. & Cmty. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)