In this section, “Fund” means the Federal Government Employee Assistance Loan Fund. There is a Federal Government Employee Assistance Loan Fund. The purpose of the Fund is to provide loans to State residents who are: employees of the federal government, required to report to work, and who are not being paid because of a full or partial federal government shutdown due to a lapse in appropriations after January 1, 2025; or in the immediately preceding 6 months, and on or after January 1, 2025, were terminated from employment by the federal government due to the closure, relocation, or mass layoff of a unit of the federal government, or other similar circumstances beyond the employees’ control, and who are experiencing financial hardship as determined by the Maryland Department of Labor. The Maryland Department of Labor shall administer the Fund. The Fund is a special, nonlapsing fund that is not subject to § 7–302 of this subtitle that shall be available in perpetuity for the purpose of providing loans in accordance with the provisions of this section. The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund. The Maryland Department of Labor is authorized to disclose information to third–party vendors to verify federal employment for the purpose of assisting with the implementation of the Fund, subject to privacy considerations. The Fund consists of: money appropriated in the State budget to the Fund; any interest earnings of the Fund; money transferred from the Catastrophic Event Account in accordance with § 7–324 of this subtitle; repayments on loans made from the Fund; and any other money from any other source accepted for the benefit of the Fund. The Fund shall be used only to provide no–interest loans to State residents who are: employees of the federal government, required to report to work, and who are not being paid because of a full or partial federal government shutdown due to a lapse in appropriations after January 1, 2025; or in the immediately preceding 6 months, and on or after January 1, 2025, were terminated from employment by the federal government due to the closure, relocation, or mass layoff of a unit of the federal government, or other similar circumstances beyond the employees’ control, and who are experiencing financial hardship as determined by the Maryland Department of Labor. The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested. Any interest earnings of the Fund shall be credited to the Fund. Subject to paragraph (2) of this subsection, the Maryland Department of Labor shall establish procedures and eligibility criteria for loans from the Fund. The eligibility criteria shall include that: the federal government is in a full or partial shutdown due to a lapse in appropriations; or a unit of the federal government has been closed, been relocated, experienced mass layoffs, or experienced other similar circumstances; and an individual applying for a loan from the Fund is, a resident of the State who is: an employee of the federal government, required to report to work, and not being paid because of the full or partial federal government shutdown due to the lapse in appropriations after January 1, 2025; or a former employee of the federal government who, within the 6 months immediately preceding the date of the loan application, and on or after January 1, 2025, was terminated from employment by the federal government due to the closure, relocation, or mass layoff of a unit of the federal government, or other similar circumstances beyond the individual’s control, and who is experiencing financial hardship as determined by the Maryland Department of Labor. The Maryland Department of Labor may establish other criteria to best assist federal employees facing financial hardship. The procedures shall include: application procedures; payment procedures from the Fund; and if repayment is required, repayment procedures, including timelines, for an individual to repay a loan from the Fund. The Maryland Department of Labor may forgive a loan provided under this section.