(a) In this subtitle the following words have the meanings indicated. (b) “Fund” means the Energy–Efficient Homes Construction Fund. (c) “Low–energy home” means a home that achieves a Home Energy Rating System (HERS) Index rating: (1) of 50 or lower; or (2) as determined by the Department in regulations. (d) “Net–zero home” means a home that is designed to produce an […]
(a) There is an Energy–Efficient Homes Construction Loan Program. (b) The purpose of the Program is to provide construction loans to persons to construct low–energy homes and net–zero homes. (c) The Program shall be operated with money in the Fund.
(a) The Department shall: (1) administer the Program; (2) attach to a Program loan the terms needed to carry out the Program; (3) establish eligibility standards for Program loans; (4) establish interest rates that may be as low as 0% or as high as is reasonable to make the project viable; and (5) adopt regulations to carry out the Program, including […]
(a) Proceeds of a Program loan shall be used only for: (1) property acquisition and development costs for the construction of a net–zero home or low–energy home; and (2) settlement and closing costs. (b) A Program loan shall be secured by a mortgage lien that: (1) may be subordinate to other mortgage liens; and (2) may include terms, including deferred payment […]
(a) (1) A person may not knowingly make or cause to be made a false statement or report in a document required to be submitted to the Department under an agreement relating to a Program loan. (2) A loan applicant may not knowingly make or cause to be made any false statement or report to influence an action […]
(a) There is an Energy–Efficient Homes Construction Fund. (b) The Department shall administer the Fund. (c) (1) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article. (2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund. (d) The Fund consists of: (1) money […]
