In this title the following words have the meanings indicated. “Assisted household” means one or more individuals who occupy a rental unit in an assisted project. “Assisted project” means a property that qualifies under § 7–105 of this subtitle. “Assisted unit” means a dwelling unit that is in an assisted project and is subject to regulatory requirements regarding: the rent the owner may charge; or the maximum annual income of the household occupying the unit. “Designated household” means a household that qualifies under § 7–213 of this title. “Notice of intent” means a notice of intent to take a protected action in accordance with Subtitle 2 of this title. “Owner” means a person who holds legal title to an assisted project or any mortgagee in possession, receiver, trustee, or other person that may take a protected action. “Owner’s offer” means the written offer made by the owner to parties having a right of first purchase under § 7–204 of this title. “Project–based § 8 rental assistance” means federal rental assistance under § 8 of the United States Housing Act of 1937, 42 U.S.C. § 1437f, to the owner or lender of a housing project under a new construction program, a substantial rehabilitation program, a loan management assistance program, or a property disposition program. “Project–based § 8 rental assistance” does not include rental assistance made directly to a tenant under existing certificate or voucher programs. “Protected action” means a sale, conveyance, transfer, prepayment, termination, failure to renew, or expiration under § 7–102(a) of this subtitle. “Relocation expenses” means costs incurred to: hire contractors, labor, vehicles, or equipment to transport personal property; pack and unpack personal property; disconnect and reconnect utilities, such as water, telephone, gas, or electric, and to perform related services; disconnect and install personal property; insure personal property to be moved; pay rental application fees and make security deposits; and pay other costs that the Secretary determines are reasonable. “Tenant protection assistance” means payments to, and extensions of leases for, the occupant or former occupant of an assisted unit in connection with a protected action as required under § 7–212 of this title.

Each owner of an assisted project is subject to this title if the owner takes or intends to take any of the following protected actions: the prepayment in full before the maturity date of mortgage financing that is: insured under § 221(d)(3) of the National Housing Act, 12 U.S.C. § 1715l(d)(3), and assisted under § 101 of the Housing and Urban Development Act of 1965, 12 U.S.C. § 1701s, or under § 8 of the United States Housing Act of 1937, 42 U.S.C. § 1437f; insured under § 221(d)(3) of the National Housing Act, 12 U.S.C. § 1715l(d)(3), and bears interest at a rate determined under § 221(d)(5) of the National Housing Act; insured or assisted under § 202 or § 236(a) or (b) of the National Housing Act, 12 U.S.C. § 1701q or 12 U.S.C. § 1715z-1(a) or (b); insured or assisted under § 515 of the Housing Act of 1949, 42 U.S.C. § 1485; or held by the United States Department of Housing and Urban Development and insured or assisted, or formerly insured or assisted, under a program authorized by a statute referred to in item (1) of this subsection; the termination before expiration of or failure to exercise any stated renewal option under an agreement providing for project-based § 8 rental assistance for any units in an assisted project; the expiration, including a failure to extend after the expiration, of an agreement providing for project-based § 8 rental assistance to any units in an assisted project; or the sale or conveyance of an assisted project by the owner in conjunction with, or within 1 year after the effective date of, any of the events described in item (1), (2), or (3) of this subsection. Any sale, conveyance, or other transfer of an assisted project is subject to this title, including: the sale or other transfer of any general partnership interests of the owner; the sale or other transfer, in any 1 calendar year, of: more than 10% of the limited partnership interests of an owner; or more than 10% of an owner’s stock; the transfer by a beneficiary of beneficial or equitable interests under a trust in which the trustee holds title to the assisted project; and other transfer determined by the Secretary. By regulation, the Secretary shall establish standards and procedures for interested persons to be exempted from any requirement of §§ 7-203 through 7-219 of this title: if Title II of the Housing and Community Development Act of 1987, 12 U.S.C. §§ 4101 through 4124, continues, is amended, or is extended, or if a successor federal law is enacted; and to diminish the burdens of dual regulation or to prevent inconsistent or inequitable application of federal and State law. This title does not apply to an assisted project if: before any protected action, the owner or purchaser records, in a form satisfactory to the Secretary, a covenant running with the land on which the assisted project is located that preserves the existing low-income rental restrictions of the federal housing program: for the term remaining as of the date of prepayment of any mortgage described under subsection (a)(1) of this section; and for the term remaining as of the date of termination, including all stated and unexercised renewal terms, of any rental assistance agreement described under subsection (a)(2) of this section or, if greater, for 5 years; or the sale or conveyance of the assisted project: is subject to continuation of the existing mortgage financing described under subsection (a)(1) of this section; and occurs before the date of a termination, failure to renew, or expiration of project-based § 8 rental assistance described under subsection (a)(2) of this section.

The Secretary shall adopt regulations to carry out this title.

A household qualifies as an assisted household if its gross annual income does not exceed: upper income limits imposed by any federal, State, or local government program providing financial assistance to the assisted project; or upper income limits that the Secretary establishes, which may vary for a particular project or a particular area of the State to the extent necessary to achieve the purposes of this title.

A property qualifies as an assisted project if: it is a building or buildings under common ownership containing 10 or more dwelling units intended to be leased to assisted households for occupancy as their primary residences; and a loan financing the property is insured or assisted under § 221(d)(3), § 202, or § 236(a) or (b) of the National Housing Act, 12 U.S.C. § 1701q, § 1715l(d)(3), or § 1715z-1, or § 515 of the Housing Act of 1949, 42 U.S.C. § 1485; or the project, the owner of the project, or a lender to the project receives project-based § 8 rental assistance.

This title does not reduce any obligation or right of a tenant, political subdivision, or owner under Title 11 of the Real Property Article.