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<section article="gtp" article_name="Tax - Property" number="14-891" title_number="14" title_name="Procedure" subtitle_number="8" subtitle_name="Collection">
  <level label="a">
    <text>In this section, “Fund” means the Homeowner Protection Fund.</text>
  </level>
  <level label="b">
    <text>There is a Homeowner Protection Fund.</text>
  </level>
  <level label="c">
    <text>The purpose of the Fund is to finance the Program.</text>
  </level>
  <level label="d">
    <text>The Department shall administer the Fund.</text>
  </level>
  <level label="e">
    <level label="1">
      <text>The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.</text>
    </level>
    <level label="2">
      <text>The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
    </level>
  </level>
  <level label="f">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>tax and interest payments made to the Department by homeowners enrolled in the Program;</text>
    </level>
    <level label="2">
      <text>voluntary donations to the Fund under § 4–201.1 of this article;</text>
    </level>
    <level label="3">
      <text>money appropriated in the State budget to the Fund;</text>
    </level>
    <level label="4">
      <text>money paid by county governments under subsection (h) of this section;</text>
    </level>
    <level label="5">
      <text>interest earnings; and</text>
    </level>
    <level label="6">
      <text>any other money from any other source accepted for the benefit of the Fund.</text>
    </level>
  </level>
  <level label="g">
    <text>For each fiscal year, the Governor shall include in the annual budget bill an appropriation of $250,000 of the interest on overdue State property tax to the Fund.</text>
  </level>
  <level label="h">
    <level label="1">
      <text>For each fiscal year, county governments shall collectively pay $500,000 to the Fund.</text>
    </level>
    <level label="2">
      <text>The amount required to be paid under paragraph (1) of this subsection shall be allocated among the counties based on the number of real property accounts in each county as a percentage of the total number of real property accounts statewide as of July 1 of the preceding fiscal year.</text>
    </level>
    <level label="3">
      <text>The amount paid by each county under this subsection shall be derived from interest on overdue county property tax.</text>
    </level>
    <level label="4">
      <text>Each county shall remit to the Department the county’s share of the amount required under paragraph (1) of this subsection on or before the first day of each fiscal year.</text>
    </level>
  </level>
  <level label="i">
    <level label="1">
      <text>The Fund may be used only for any expenses associated with the Program.</text>
    </level>
    <level label="2">
      <text>The Fund may not be used for any expenses of the office of the State Tax Sale Ombudsman that are not directly related to the Program.</text>
    </level>
  </level>
  <level label="j">
    <level label="1">
      <text>The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.</text>
    </level>
    <level label="2">
      <text>Any interest earnings of the Fund shall be credited to the Fund.</text>
    </level>
  </level>
  <level label="k">
    <text>Expenditures from the Fund may be made only in accordance with the State budget.</text>
  </level>
  <level label="l">
    <text>The Fund is the exclusive source of funding for the Program.</text>
  </level>
</section>
