Maryland § 4-203
Full text of Maryland Maryland Code § 4-203, with citation guidance and answers to common questions.
§ 4-203.
(a) To attract and retain teachers in the State by increasing homeownership opportunities, the General Assembly finds that there is a need to authorize the Department to develop a program to dedicate up to $25,000,000 over 5 years to provide mortgage loans to teachers at interest rates below the prevailing interest rate for similar programs.
(b) (1) A mortgage loan under this section shall be available to a teacher who is a first–time home buyer.
(2) The loan shall be conditioned on an agreement by the teacher to teach in the State for at least 3 years if work is available for the teacher.
(3) The loan shall be used to purchase property in a priority funding area as defined in §§ 5–7B–02 and 5–7B–03 of the State Finance and Procurement Article.
(c) The Administration shall develop the program in consultation with:
(1) the State Department of Education, to ensure that the program is consistent with the State’s strategy to attract and retain teachers; and
(2) local boards of education, to ensure that the program is properly marketed.
Frequently Asked Questions About Maryland § 4-203
What does Maryland Code § 4-203 cover?
Section 4-203 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 4-203?
A common citation format is "Maryland Code § 4-203" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 4-203 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.