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<section article="ghs" article_name="Housing and Community Development" number="6-310" title_number="6" title_name="Division of Neighborhood Revitalization" subtitle_number="3" subtitle_name="Neighborhood Business Development Program">
  <level label="a">
    <text>There is a Neighborhood Business Development Fund.</text>
  </level>
  <level label="b">
    <text>The Department shall use the Fund to:</text>
    <level label="1">
      <text>operate and pay expenses of the Program; and</text>
    </level>
    <level label="2">
      <text>provide financial assistance to small businesses, nonprofit organizations, and microenterprises.</text>
    </level>
  </level>
  <level label="c">
    <level label="1">
      <text>The Department shall administer the Fund.</text>
    </level>
    <level label="2">
      <text>The State Treasurer shall hold and the Comptroller shall account for the Fund.</text>
    </level>
  </level>
  <level label="d">
    <text>The Fund is a continuing, nonlapsing special fund that is not subject to § 7–302 of the State Finance and Procurement Article.</text>
  </level>
  <level label="e">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>money appropriated in the State budget for the Program;</text>
    </level>
    <level label="2">
      <text>any repayment or prepayment of financial assistance under this subtitle or under the State Action Loans for Targeted Areas Program under former Article 83B, Title 4, Subtitle 6, of the Code;</text>
    </level>
    <level label="3">
      <text>money transferred to the Fund from any other fund as provided in this article;</text>
    </level>
    <level label="4">
      <text>money received from the sale, assignment, or other disposition of Program loans and equity interests;</text>
    </level>
    <level label="5">
      <text>other money received by the Program under this subtitle or from the Community Development Administration under Subtitle 2 of this title; and</text>
    </level>
    <level label="6">
      <text>investment earnings of the Fund.</text>
    </level>
  </level>
  <level label="f">
    <text>The Fund shall be invested in the same way as other State money.</text>
  </level>
  <level label="g">
    <text>With the approval of the Legislative Policy Committee and, subject to § 7–209 of the State Finance and Procurement Article, after the first 8 months of a fiscal year, the Department may transfer unencumbered money in the Fund to:</text>
    <level label="1">
      <text>any other fund established under this title;</text>
    </level>
    <level label="2">
      <text>the Community Development Administration to provide financial assistance to business projects; and</text>
    </level>
    <level label="3">
      <text>the Maryland Housing Fund under Title 3 of this article to provide insurance, credit enhancement, or a guaranty on:</text>
      <level label="i">
        <text>a Program loan; or</text>
      </level>
      <level label="ii">
        <text>a business project loan, bond, or security that is issued, made, or purchased by the Community Development Administration under Title 4 of this article.</text>
      </level>
    </level>
  </level>
</section>
