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<section article="gtr" article_name="Transportation" number="7-1203" title_number="7" title_name="Mass Transit" subtitle_number="12" subtitle_name="Transit–oriented Development Capital Grant and Revolving Loan Fund">
  <level label="a">
    <text>The purpose of the Fund is to promote the equitable and inclusive development of transit–oriented developments throughout the State.</text>
  </level>
  <level label="b">
    <text>The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
  </level>
  <level label="c">
    <level label="1">
      <text>The Fund consists of:</text>
      <level label="i">
        <text>Money appropriated in the State budget to the Fund;</text>
      </level>
      <level label="ii">
        <text>Money made available for qualifying uses by the Fund from other governmental sources, including  eligible federal funding and the Transportation Trust Fund;</text>
      </level>
      <level label="iii">
        <text>Ground rents or land sale proceeds in accordance with § 10–306(c)(2) of the State Finance and Procurement Article;</text>
      </level>
      <level label="iv">
        <text>Payments of principal of and interest on loans made under this title;</text>
      </level>
      <level label="v">
        <text>Investment earnings of the Fund; and</text>
      </level>
      <level label="vi">
        <text>Any other money from any other source, public or private, accepted for the benefit of the Fund.</text>
      </level>
    </level>
    <level label="2">
      <text>Contributions to the Fund under paragraph (1)(iii) of this subsection shall:</text>
      <level label="i">
        <text>Be separately accounted for in the Fund; and</text>
      </level>
      <level label="ii">
        <text>Be used only for the benefit of transit–oriented developments in the same county where the real property subject to the ground rent or land sale is located.</text>
      </level>
    </level>
  </level>
  <level label="d">
    <text>For each fiscal year, the Governor shall include in the annual budget bill an appropriation sufficient to ensure a Fund balance of at least  $5,000,000 at the start of the fiscal year.</text>
  </level>
</section>
