Maryland Code, HOUSING AND COMMUNITY DEVELOPMENT 10-202
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Terms Used In Maryland Code, HOUSING AND COMMUNITY DEVELOPMENT 10-202
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(a) The Board shall use the Fund to make awards to:
(1) help acquire, build, rehabilitate, or preserve affordable housing;
(2) help nonprofit organizations develop affordable housing; and
(3) help promote affordable housing by contributing to pay the operating expenses of housing developments.
(b) In any fiscal year, the Board may use up to 5% of the Fund to pay actual operating and staffing expenses directly related to the activities of the Trust.