Maryland Code, Housing and Community Development § 4-217

(i) that is or will be occupied in substantial part by families of limited income; or

(ii) at least 20% of which is or will be occupied by families of limited income, if the project is financed with bonds, notes, or other evidences of indebtedness issued by the Administration, the income from which being includable in the holder's gross income under the Internal Revenue Code as determined by the Administration at the time of issue;

(i) are in sustainable communities approved under § 6-305 of this article; and

(ii) provide employees with financial assistance in the form of grants to buy homes near their workplaces.

(5)(i) In fiscal year 2007 and fiscal year 2008, the Governor may include in the State budget $250,000 for the “Live Near Your Work” program established under this subsection.

(ii) In fiscal year 2009 and every fiscal year thereafter, the Governor may include in the State budget no less than $250,000 and no more than $500,000 for the “Live Near Your Work” program established under this subsection.

(e)(1)(i) In this subsection the following words have the meanings indicated.

(ii) “Current student” means an individual who:

(iii) “Public institution of higher education” has the meaning stated in § 10-101 of the Education Article.

(iv) “Recent graduate” means an individual who, within 5 years before applying for assistance under this section, graduated from a public institution of higher education in the State with at least:

(i) are in sustainable communities approved under § 6-305 of this article; and

(ii) provide current students and recent graduates with financial assistance in the form of grants to buy homes near the school of the student or graduate.