Department of Housing and Community Development - Appraisal Gap From Historic Redlining Financial Assistance Program - Qualified Properties

HB 1466 expands Maryland's Appraisal Gap From Historic Redlining Financial Assistance Program by redefining "qualified property" to include homes in neighborhoods **historically redlined or affected by urban renewal**, in addition to existing criteria. This change directly affects **homebuyers and developers** seeking affordable housing in these specific areas by allowing them to access financial assistance to cover appraisal gaps. The program helps address undervaluation of homes in historically redlined neighborhoods - where appraisals often fall below market value due to systemic bias - by providing funds to bridge that difference. The bill amends Maryland Code, Housing and Community Development Article, Section 4-2801(h), effective July 1, 2026.