Md. Code Regs. 26.03.10.06

Current through Register Vol. 51, No. 24, December 2, 2024

Section 26.03.10.06 - Allocation of Funds

The Department annually shall allocate available funds as described below:

A. Up to 10 percent of the funds shall be placed in a reserve fund for emergency projects and for grant amendments and loan or loan guarantee increases necessitated by change orders and cost overruns;

B. Not more than 25 percent of the funds not reserved under §A, of this regulation, shall be set aside for grants; and

C. Funds remaining after the reserve fund and grant fund are established shall be used for loans and loan guarantees.

Md. Code Regs. 26.03.10.06