Bill > SB938

This bill establishes the Affordable Multifamily Rental Housing Stabilization Program within the Department of Housing and Community Development to provide financial assistance, in the form of low- or no-interest loans or grants, to owners of certain affordable rental housing properties that have at least 15 units for low-income households and are already in the Department's loan portfolio, for emergency or urgent capital repairs when the owner lacks sufficient funds. The program prioritizes repairs that reduce operating costs, and funds awarded for repairs at a single property cannot exceed $1,000,000 per fiscal year, with applications accepted on a rolling basis, and the Governor is authorized to include a $5,000,000 appropriation for the program in the annual budget bill for fiscal years 2028 through 2031.

Education

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0938?ys=2026RS