| 1 | 1 | | |
|---|
| 2 | 2 | | |
|---|
| 3 | 3 | | EXPLANATION: CAPITALS INDICATE MATTER ADDE D TO EXISTING LAW . |
|---|
| 4 | 4 | | [Brackets] indicate matter deleted from existing law. |
|---|
| 5 | 5 | | *hb0607* |
|---|
| 6 | 6 | | |
|---|
| 7 | 7 | | HOUSE BILL 607 |
|---|
| 8 | 8 | | F2 5lr1638 |
|---|
| 9 | 9 | | |
|---|
| 10 | 10 | | By: Delegates Taylor, Holmes, Acevero, Addison, Amprey , Conaway, Crutchfield, |
|---|
| 11 | 11 | | Pena–Melnyk, Phillips, Ruff, Sample–Hughes, Simpson, Solomon, Toles, |
|---|
| 12 | 12 | | Wells, White Holland, Williams, and Woods |
|---|
| 13 | 13 | | Introduced and read first time: January 23, 2025 |
|---|
| 14 | 14 | | Assigned to: Appropriations |
|---|
| 15 | 15 | | |
|---|
| 16 | 16 | | A BILL ENTITLED |
|---|
| 17 | 17 | | |
|---|
| 18 | 18 | | AN ACT concerning 1 |
|---|
| 19 | 19 | | |
|---|
| 20 | 20 | | Maryland Higher Education Commission – PAREA Grant Program – Established 2 |
|---|
| 21 | 21 | | |
|---|
| 22 | 22 | | FOR the purpose of establishing the Practical Applications of Real Estate Appraisal 3 |
|---|
| 23 | 23 | | (PAREA) Grant Program to provide grants to certain individuals with the goal of 4 |
|---|
| 24 | 24 | | becoming a real estate appraiser in certain communities; requiring the Maryland 5 |
|---|
| 25 | 25 | | Higher Education Commission to administer the Program; and generally relating to 6 |
|---|
| 26 | 26 | | the Practical Applications of Real Estate Appraisal (PAREA) Grant Program. 7 |
|---|
| 27 | 27 | | |
|---|
| 28 | 28 | | BY adding to 8 |
|---|
| 29 | 29 | | Article – Education 9 |
|---|
| 30 | 30 | | Section 18–4201 and 18–4202 to be under the new subtitle “Subtitle 42. PAREA 10 |
|---|
| 31 | 31 | | Grant Program” 11 |
|---|
| 32 | 32 | | Annotated Code of Maryland 12 |
|---|
| 33 | 33 | | (2022 Replacement Volume and 2024 Supplement) 13 |
|---|
| 34 | 34 | | |
|---|
| 35 | 35 | | SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 14 |
|---|
| 36 | 36 | | That the Laws of Maryland read as follows: 15 |
|---|
| 37 | 37 | | |
|---|
| 38 | 38 | | Article – Education 16 |
|---|
| 39 | 39 | | |
|---|
| 40 | 40 | | SUBTITLE 42. PAREA GRANT PROGRAM. 17 |
|---|
| 41 | 41 | | |
|---|
| 42 | 42 | | 18–4201. 18 |
|---|
| 43 | 43 | | |
|---|
| 44 | 44 | | (A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS 19 |
|---|
| 45 | 45 | | INDICATED. 20 |
|---|
| 46 | 46 | | 2 HOUSE BILL 607 |
|---|
| 47 | 47 | | |
|---|
| 48 | 48 | | |
|---|
| 49 | 49 | | (B) “PAREA” MEANS THE PRACTICAL APPLICATIONS OF REAL ESTATE 1 |
|---|
| 50 | 50 | | APPRAISAL. 2 |
|---|
| 51 | 51 | | |
|---|
| 52 | 52 | | (C) “PROGRAM” MEANS THE PRACTICAL APPLICATIONS OF REAL ESTATE 3 |
|---|
| 53 | 53 | | APPRAISAL GRANT PROGRAM. 4 |
|---|
| 54 | 54 | | |
|---|
| 55 | 55 | | 18–4202. 5 |
|---|
| 56 | 56 | | |
|---|
| 57 | 57 | | (A) THERE IS A PRACTICAL APPLICATIONS OF REAL ESTATE APPRAISAL 6 |
|---|
| 58 | 58 | | GRANT PROGRAM IN THE COMMISSION. 7 |
|---|
| 59 | 59 | | |
|---|
| 60 | 60 | | (B) THE PURPOSE OF THE PROGRAM IS TO: 8 |
|---|
| 61 | 61 | | |
|---|
| 62 | 62 | | (1) ASSIST IN CLOSING APPRAISAL GAPS THAT OCCUR IN 9 |
|---|
| 63 | 63 | | HISTORICALLY REDLINE D NEIGHBORHOODS AND UNDERREPRESENTED 10 |
|---|
| 64 | 64 | | COMMUNITIES ; 11 |
|---|
| 65 | 65 | | |
|---|
| 66 | 66 | | (2) AWARD GRANTS TO MINORITIES WHO RESIDE IN HISTOR ICALLY 12 |
|---|
| 67 | 67 | | REDLINED NEIGHBORHOO DS AND UNDERREPRESEN TED COMMUNITIES WITH THE 13 |
|---|
| 68 | 68 | | GOAL OF PURSUING PAREA; AND 14 |
|---|
| 69 | 69 | | |
|---|
| 70 | 70 | | (3) DIVERSIFY THE APPRAIS AL FIELD. 15 |
|---|
| 71 | 71 | | |
|---|
| 72 | 72 | | (C) THE COMMISSION SHALL ADMI NISTER THE PROGRAM. 16 |
|---|
| 73 | 73 | | |
|---|
| 74 | 74 | | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 17 |
|---|
| 75 | 75 | | 1, 2025. 18 |
|---|