Final answer:
The MHIC licensing application fee varies and a portion goes into a guaranty fund for homeowner protection. However, the exact figures are not mentioned in the question, so checking the official MHIC website would provide the most accurate information.
Step-by-step explanation:
The current fee for the MHIC (Maryland Home Improvement Commission) licensing application is a specific amount defined by the state regulation, and part of it goes into what is called a guaranty fund. The guaranty fund is designed to compensate homeowners when licensed home improvement contractors do not fulfill their contracts. Since the original question does not mention any specific amounts, I can't provide the exact figures. For the most accurate information, you should check the official MHIC's website or contact them directly.
Learn more about MHIC licensing