The Department shall establish the maximum dollar amount of equity payments authorized for disbursement to each borrower for each fiscal year. Because Program funding is appropriated annually by the legislature, there is no assurance that an approved line of credit can be drawn on by the borrower in any year, or that the borrower will ever be able to draw on the entire amount of the borrower's maximum line of credit.

Authority: Housing and Community Development Article, §§4-804, 4-806, and 4-807, Annotated Code of Maryland

Effective date:

Regulations .01—.11 adopted as an emergency provision effective May 16, 1989 (16:11 Md. R. 1212); emergency status expired November 15, 1989

Regulations .01—.13 adopted effective December 11, 1989 (16:24 Md. R. 2616)

Regulation .03B amended effective February 1, 1993 (20:2 Md. R. 110)

Regulation .07C and D amended effective February 1, 1993 (20:2 Md. R. 110)