Maryland Statutes
Economic Development
Division II - Independent and Regional Development Units and Resources

Section 10-333 - Refunding Bonds -- Investment or Reinvestment in United States Obligations - (a) Pending their use in accordance with this subtitle, proceeds...

Section 10-334 - Bond Anticipation Notes - (a) The Authority may issue negotiable bond anticipation notes in...

Section 10-335 - Title Conveyance; Release of Security - (a) The Authority shall convey title to a project and...

Section 10-336 - Enforcement Authority - (a) A bondholder, a holder of any coupons attached to...

Section 10-337 - Tax Status - (a) The Authority, its agent, or its lessee is not...

Part IV - Maryland Hospital Bond Program

Section 10-340 - Definitions - (a) In this part the following words have the meanings...

Section 10-341 - Scope of Part - This part applies to: (1) the closure of a hospital...

Section 10-342 - Legislative Finding; Purpose; Intent - (a) The General Assembly finds that the failure to provide...

Section 10-343 - Maryland Hospital Bond Program - (a) There is a Maryland Hospital Bond Program in the...

Section 10-344 - Notices of Closure and Delicensure - (a) (1) The Maryland Health Care Commission shall notify in...

Section 10-345 - Additional Required Information - (a) As to each hospital that files a notice of...

Section 10-346 - Statement of Outstanding Obligations; Closure Plan - (a) (1) A hospital that intends to close or is...

Section 10-347 - Closure Costs -- Conditions for Payment - (a) The Health Services Cost Review Commission may determine to...

Section 10-348 - Payment Schedule; Plan - (a) Within 60 days after receiving the statement required by...

Section 10-349 - Bond Issuance - (a) The Authority may issue bonds to finance or otherwise...

Section 10-350 - Fees - (a) On the date of closure or delicensure of a...

Section 10-351 - Reduction in Amounts Qualifying for Payment Under Program - (a) Notwithstanding any other provision of this subtitle, the amount...

Section 10-352 - Determination by Authority Conclusive and Binding - Notwithstanding any other provision of this part, in a proceeding...

Section 10-353 - Waiver of Notice - The Health Services Cost Review Commission, the Maryland Health Care...

Part V - Short Title

Section 10-356 - Short Title - This subtitle may be cited as the “Maryland Health and...

Subtitle 4 - Maryland Technology Development Corporation

Part I - General Provisions

Section 10-401 - Definitions - (a) In this subtitle the following words have the meanings...

Section 10-402 - Established - (a) There is a Maryland Technology Development Corporation. (b) The...

Section 10-403 - Board of Directors - (a) (1) A Board of Directors shall manage the Corporation...

Section 10-404 - Executive Director - (a) The Corporation shall employ a Chief Executive Officer. (b)...

Section 10-405 - Legal Advisor - (a) The Attorney General is the legal advisor to the...

Section 10-406 - Staff - The Corporation may retain any necessary accountants, engineers, financial advisors,...

Section 10-407 - Applicability of Other Laws - (a) Except as provided in subsections (b), (c), and (e)...

Section 10-408 - Duties and Powers -- in General - (a) The Corporation shall adopt regulations establishing: (1) the investment...

Section 10-409 - Powers -- Grants and Investment - (a) Except as provided in subsection (c) of this section,...

Section 10-410 - Powers -- Projects - The Corporation may: (1) acquire, develop, improve, manage, market, license,...

Section 10-411 - Liability; Credit - A debt, claim, obligation, or liability of the Corporation or...

Section 10-412 - Participation by Colleges and Universities - Colleges and universities may: (1) contract with the Corporation or...

Section 10-413 - Tax Status - The Corporation is exempt from State and local taxes.

Section 10-414 - Audit - The books and records of the Corporation are subject to...

Section 10-415 - Reports - (a) (1) On or before October 1 of each year,...

Section 10-416 - Comprehensive Technical Assistance Program -- Purpose -- Annual Report -- Regulations Adopted - (a) There is a Comprehensive Technical Assistance Program in the...

Part II - Maryland Technology Incubator Program

Section 10-418 - Definitions - (a) In this part the following words have the meanings...

Section 10-419 - Established - (a) There is a Maryland Technology Incubator Program. (b) The...

Section 10-420 - Purpose - The purpose of the Program is to promote entrepreneurship and...

Section 10-421 - Awards - To carry out the purposes of the Program, the Board...

Section 10-422 - Sources - The Board may award financial assistance using money provided by...

Section 10-423 - Allowed Purposes - (a) After consulting with the Secretary, the Board shall adopt...

Section 10-424 - Allowed Recipients - The Board may award financial assistance to: (1) a local...

Section 10-425 - Matching Funds - (a) A recipient of financial assistance under § 10-423(b)(3) of...

Section 10-426 - Limitation - Unless two-thirds of the membership of the Board approve, the...

Part III - Stem Cell Research

Section 10-429 - Definitions - (a) In this part the following words have the meanings...

Section 10-430 - Construction of Part - Nothing in this part may be construed to prohibit the...

Section 10-431 - Stem Cell Research Commission - (a) There is a Stem Cell Research Commission. (b) The...

Section 10-432 - Duties - (a) The Commission shall: (1) adopt regulations that ensure that...

Section 10-434 - Maryland Stem Cell Research Fund - (a) There is a Maryland Stem Cell Research Fund. (b)...

Section 10-435 - Grant and Loan Conditions - (a) A grant or loan awarded under this part is...

Section 10-436 - Peer Review Committee - (a) The Commission shall contract with an independent scientific peer...

Section 10-437 - Manner of Conducting State-Funded Stem Cell Research - (a) A person who conducts State-funded stem cell research shall...

Section 10-438 - Unused Donated Material - (a) A health care practitioner licensed under the Health Occupations...

Section 10-439 - Prohibited Acts -- Donated Material - (a) A person may not purchase, sell, transfer, or obtain...

Section 10-440 - Prohibited Acts -- Human Cloning - (a) A person may not conduct or attempt to conduct...

Section 10-441 - Regulations - The Corporation, in consultation with the Commission, shall adopt regulations...

Section 10-442 - Annual Report - (a) On or before January 1 of each year, the...

Part IV - Coordinating Emerging Nanobiotechnology Research in Maryland Program

Section 10-445 - Definitions - (a) In this part the following words have the meanings...

Section 10-446 - Legislative Findings - The General Assembly finds and declares that: (1) nanobiotechnology offers...

Section 10-447 - Coordinating Emerging Nanobiotechnology Research in Maryland Program - (a) There is a Coordinating Emerging Nanobiotechnology Research in Maryland...

Section 10-448 - Coordinating Emerging Nanobiotechnology Research in Maryland Fund - (a) There is a Coordinating Emerging Nanobiotechnology Research in Maryland...

Section 10-449 - Financial Assistance - (a) Within the CENTR Maryland Program, subject to available funding,...

Section 10-450 - Applications; Eligibility; Priority - (a) The Corporation shall adopt regulations to establish: (1) a...

Section 10-451 - Annual Report - The Corporation shall include, as part of its annual report...

Part V - Maryland Innovation Initiative

Section 10-454 - Definitions - (a) In this part the following words have the meanings...

Section 10-455 - Maryland Innovation Initiative - (a) There is a Maryland Innovation Initiative. (b) The Initiative...

Section 10-456 - Purpose of Initiative - The purpose of the Initiative is to: (1) promote the...

Section 10-457 - Maryland Innovation Initiative Fund - (a) There is a Maryland Innovation Initiative Fund. (b) The...

Section 10-458 - Functions - (a) The Initiative may: (1) provide grant funding or equity...

Section 10-459 - Proposals for Granting Funding - (a) Only qualifying universities may submit proposals for grant funding...

Section 10-460 - Annual Reports - The Corporation shall include, as part of its annual report...

Section 10-461 - Maryland Innovation Initiative University Partnership Pilot Program -- Implementation and Administration -- Qualified Participants -- Funding - // EFFECTIVE UNTIL JUNE 30, 2024 PER CHAPTER 697 OF...

Part VI - Cybersecurity Investment Fund

Section 10-463 - Definitions - (a) In this part the following words have the meanings...

Section 10-464 - Cybersecurity Investment Fund - (a) There is a Cybersecurity Investment Fund. (b) The purpose...

Section 10-465 - Reports - The Corporation shall include, as part of its annual report...

Part VII - Enterprise Fund

Section 10-468 - Definitions - In this part, “Fund” means the Enterprise Fund established under...

Section 10-469 - Enterprise Fund - (a) There is an Enterprise Fund in the Corporation. (b)...

Section 10-470 - Administration of Grants - (a) The Corporation may require that all or part of...

Part VIII - Maryland Small Business Innovation Research and Technology Transfer Incentive Program

Section 10-473 - Terms Defined - (a) In this part the following words have the meanings...

Section 10-474 - Research and Technology Transfer Incentive Program -- Administered by Corporation -- Purpose of Program - (a) There is a Maryland Small Business Innovation Research and...

Section 10-475 - Qualifications for Participation in Program -- Failure to Maintain Eligibility -- Return of Investment Funding - (a) To qualify for participation in the Program, a small...

Section 10-476 - Application Form -- Award or Investment From Program -- Amounts -- Coordination With Comparable Programs - (a) An applicant shall submit an application for a Program...

Section 10-477 - Research and Technology Transfer Incentive Matching Fund -- Purpose of Fund -- Administration of Fund -- Funding - (a) There is a Maryland Small Business Innovation Research and...

Section 10-478 - Adoption of Implementing Regulations - The Corporation shall adopt regulations to implement this part.

Part IX - Inclusion Fund

Section 10-481 - Terms Defined - In this part, “Fund” means the Inclusion Fund established in...

Section 10-482 - Inclusion Fund -- Administered by Corporation -- Purpose of Fund - (a) There is an Inclusion Fund in the Corporation. (b)...

Section 10-483 - Annual Report - The Corporation shall include as part of its annual report...

Part X - Pre-Seed Builder Fund

Section 10-486 - Pre-Seed Builder Fund -- Purpose -- Management -- Special, Non-Lapsing Revolving Fund -- Annual Funding - (a) In this section, “Fund” means the Pre–Seed Builder Fund....

Subtitle 4A - Invest Maryland Program

Part I - General Provisions

Section 10-4A-01 - Definitions - (a) In this subtitle the following words have the meanings...

Section 10-4A-02 - Maryland Venture Fund Authority Established - There is a Maryland Venture Fund Authority in the Corporation.

Section 10-4A-03 - Membership - (a) The Authority consists of the following nine members: (1)...

Section 10-4A-04 - Chair; Election of Officers - (a) The Governor shall appoint a chair from among the...

Section 10-4A-05 - Quorum; Compensation and Reimbursement; Public Disclosure - (a) (1) Five members of the Authority are a quorum....

Section 10-4A-06 - Advice to and Consultation With Corporation; Meetings - The Authority shall: (1) provide advice to and consult with...

Part II - Designated Capital

Section 10-4A-09 - General Provisions - (a) All designated capital from purchasers shall be deposited into...

Section 10-4A-10 - Bidding Process - (a) The Authority shall obtain the services of an independent...

Section 10-4A-11 - Tax Credit Certificate - (a) Designated capital committed by a purchaser shall be paid...

Section 10-4A-12 - Premium Tax - (a) (1) Subject to the restriction in paragraph (2) of...

Part III - Venture Firms and Investments

Section 10-4A-15 - Independent Third Party - (a) Subject to the approval of the Corporation, the Authority...

Section 10-4A-16 - Venture Firm Certification - (a) In selecting applicants for venture firm certification, the Authority...

Section 10-4A-17 - Qualified Business - (a) (1) A business that is classified as a qualified...

Section 10-4A-18 - Prohibitions of Purchaser or Affiliate - (a) A purchaser or affiliate may not directly or indirectly:...

Section 10-4A-19 - Reports and Audited Financial Statement - (a) Not later than March 31 of each year, each...

Section 10-4A-20 - Distributions - (a) A venture firm may make a qualified distribution at...

Section 10-4A-21 - Investment Returns Used to Make Additional Qualified Investments - Investment returns resulting from the qualified investments made under the...

Section 10-4A-22 - Required Equity Investments - (a) Each venture firm shall be required to make equity...

Part IV - Miscellaneous

Section 10-4A-25 - Miscellaneous Provisions - (a) In any case under the insurance law of the...

Section 10-4A-26 - Applicability of Other Provisions - (a) Except as provided in subsection (b) of this section,...

Section 10-4A-27 - Administration of Subtitle and Regulations - The Corporation shall administer this subtitle and may adopt regulations...

Section 10-4A-28 - Report on Implementation of Program - (a) (1) The Corporation shall submit a report on the...

Subtitle 4B - Maryland Small Business Innovation Research Technical Assistance Program

Section 10-4B-01 - Small Business Innovation Research Technical Assistance Program -- Purpose -- Qualifications -- Regulations - (a) (1) In this section the following words have the...

Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation

Section 10-501 - Definitions - (a) In this subtitle the following words have the meanings...

Section 10-502 - Legislative Findings; Purposes - (a) The General Assembly finds that: (1) the State’s agricultural...

Section 10-503 - Construction of Subtitle - This subtitle shall be liberally construed to carry out its...

Section 10-504 - Established - (a) There is a Maryland Agricultural and Resource-Based Industry Development...

Section 10-505 - Board of Directors - (a) (1) There is a Board of Directors of the...

Section 10-506 - Executive Director - The Corporation shall employ an Executive Director with experience and...

Section 10-507 - Legal Advisor - The Attorney General serves as legal advisor to the Corporation.

Section 10-508 - Applicability of Other Laws - (a) The Corporation is exempt from: (1) Title 10 and...

Section 10-509 - Powers -- in General - The Corporation may: (1) adopt bylaws for the conduct of...

Section 10-510 - Powers -- Grants and Investments - The Corporation may make grants to or provide equity investment...

Section 10-511 - Powers -- Projects - The Corporation may: (1) acquire, improve, develop, manage, market, manufacture,...

Section 10-512 - Powers -- Borrowing and Lending Authority - The Corporation may: (1) (i) borrow money and issue bonds;...

Section 10-513 - Bonds -- in General - (a) The Corporation may authorize the issuance of revenue bonds...

Section 10-514 - Bonds -- Liability; Full Faith and Credit - (a) (1) This section does not prevent the Corporation from...

Section 10-515 - Bonds -- Trust Agreement - (a) (1) The Corporation may secure a bond by a...

Section 10-516 - Bonds -- Investment of Proceeds - (a) The portion of the proceeds of bonds issued to...

Section 10-517 - Bonds -- Refunding Bonds - (a) (1) The Corporation may issue bonds to refund any...

Section 10-518 - Pledge - (a) The Corporation may pledge or assign: (1) any of...

Section 10-519 - Project Financing - (a) The Corporation may: (1) lend or otherwise make available...

Section 10-520 - Agricultural Loans - (a) (1) The Corporation may purchase and sell agricultural loans...

Section 10-521 - Agricultural Studies - The Corporation may: (1) study agricultural conditions and needs in...

Section 10-522 - Cooperation With Other Units - (a) (1) Each unit in the Executive Branch of State...

Section 10-523 - Funding - (a) (1) The Corporation may receive annual funding through an...

Section 10-524 - Liability of Corporation - (a) A debt, claim, obligation, or liability of the Corporation,...

Section 10-525 - Tax Status - The Corporation is exempt from State and local taxes.

Section 10-526 - Audit - The books and records of the Corporation are subject to...

Section 10-527 - Annual Report - (a) On or before October 1 of each year, the...

Subtitle 6 - Maryland Stadium Authority

Part I - Definitions

Section 10-601 - Definitions - (a) In this subtitle the following words have the meanings...

Part II - Stadium Authority

Section 10-604 - Established - (a) There is a Maryland Stadium Authority. (b) (1) The...

Section 10-605 - Membership - (a) (1) The Authority consists of the following seven members:...

Section 10-606 - Chair - The Governor shall designate a chair from among the members...

Section 10-607 - Meetings; Quorum; Compensation - (a) (1) The Authority shall determine the times and places...

Section 10-608 - Applicability of Other Law - The Authority is exempt: (1) from taxation by the State...

Section 10-609 - Executive Director - (a) With the approval of the Governor, the Authority shall...

Section 10-610 - Staff; Independent Contractors - The Authority may employ or retain, either as employees or...

Section 10-611 - Maryland Sports Office - (a) There is an office known as Maryland Sports in...

Section 10-612 - Affiliated Foundations - (a) The Authority may establish one or more affiliated foundations...

Section 10-612.1 - Youth and Amateur Sports Grants Program -- Purpose -- Administration -- Funding - (a) (1) In this section the following words have the...

Section 10-612.2 - Michael Erin Busch Sports Fund -- Purpose -- Administration -- Funding - (a) In this section, “Fund” means the Michael Erin Busch...

Part III - Powers

Section 10-613 - Miscellaneous Powers - (a) The Authority may: (1) adopt a seal; (2) sue...

Section 10-614 - Miscellaneous Powers -- Financing - Subject to the approval of the Board of Public Works,...

Section 10-615 - Prohibitions - (a) An Authority sports facility may not be used to...

Section 10-616 - Authority to Develop Camden Yards - (a) Subject to the approval of the Board of Public...

Section 10-617 - Camden Yards -- Specific Limitations - (a) Notwithstanding any other law, a dome may be built...

Section 10-618 - Authority to Acquire Sites - (a) (1) Except as provided in paragraph (2) of this...

Section 10-619 - Authority to Acquire Ownership Interest in Professional Teams - (a) Subject to the prior approval of the Board of...

Section 10-620 - Authority to Acquire Property Generally - (a) (1) Subject to annual appropriations and this subtitle, the...

Section 10-621 - Sale of Seat Licenses - (a) Except as provided in subsection (b) of this section,...

Section 10-622 - Projects for State Units and Local Governments - (a) (1) Subject to subsection (b) of this section, the...

Section 10-622.1 - Studies for Development of Supplemental Facilities for Benefit of Sports Facilities at Camden Yards - (a) (1) Subject to subsection (b) of this section, the...

Section 10-622.2 - Development of Supplemental Facilities and Sites for Benefit of Sports Facilities at Camden Yards - (a) Subject to the approval of the Board of Public...

Section 10-622.3 - Authority to Acquire Property - (a) Subject to annual appropriations and this subtitle, the Authority...

Section 10-622.4 - Approval for Contract to Acquire Property or Demolish Existing Structure - A contract to acquire any property or demolish an existing...

Section 10-622.5 - Bonds - (a) Except as allowed by § 10–639 of this subtitle,...

Section 10-623 - Duties - The Authority shall: (1) submit the operating and capital program...

Section 10-624 - Audit - The Authority shall: (1) have an independent certified public accountant...

Section 10-625 - Annual Reports - (a) Except as provided in subsection (b) of this section,...

Part IV - Bonds -- in General

Section 10-628 - Bonding Authority - (a) Except as provided in subsections (b) and (c) of...

Section 10-629 - Payment of Bonds - (a) The Authority shall pay the bonds issued in accordance...

Section 10-630 - Authorization of Bonds by Resolution or Trust Agreement - (a) The Authority shall authorize the issuance of bonds by...

Section 10-631 - Resolutions and Trust Agreements -- Additional Provisions - A resolution of the Authority or a trust agreement between...

Section 10-632 - Personal Liability of Authority Member -- Exemption - Neither a member of the Authority nor any other person...

Section 10-633 - Agreement for Enhancing Marketability of Bonds - The Authority may enter into agreements for the purpose of...

Section 10-634 - Pledges by Authority of Revenues or Money Deposited in the Baltimore City Public School Construction Financing Fund - (a) A pledge by the Authority of revenues or money...

Section 10-635 - Enforcement of Rights by Bondholders - Except to the extent restricted by an applicable resolution or...

Section 10-636 - Refunding Bonds - (a) Subject to the prior approval of the Board of...

Part V - Restrictions on Bonds and Borrowing

Section 10-639 - General Restrictions on Bonds and Borrowing - This part governs the closing on the sale of bonds...

Section 10-640 - Baltimore Convention Facility - (a) Except as allowed by § 10-639 of this subtitle,...

Section 10-641 - Hippodrome Performing Arts Facility - (a) Except as allowed by § 10-639 of this subtitle,...

Section 10-642 - Montgomery County Conference Facility - (a) Except as allowed by § 10-639 of this subtitle,...

Section 10-643 - Ocean City Convention Facility - (a) Except as allowed by § 10–639 of this subtitle,...

Section 10-644 - Sports Facilities - (a) Except as allowed by § 10-639 of this subtitle,...

Section 10-645 - Baltimore City Public School Facility - (a) (1) Except as agreed to in the memorandum of...

Section 10-646 - Memorandum of Understanding - (a) Before any bonds are issued to finance improvements to...

Section 10-646.1 - Compliance by Authority -- Information Provided -- Issuance of Bonds -- Long Term Agreements - (a) Except as allowed by § 10–639 of this subtitle,...

Section 10-646.2 - Hagerstown Multi-Use Sports and Events Facility -- Comprehensive Financing Plan Provided by Authority -- Annual Appropriation-- Written Agreement for Transfer of Ownership -- Annual Report - (a) Except as authorized by § 10–639 of this subtitle,...

Part VI - Miscellaneous Bond Provisions

Section 10-647 - Legal Investments - A financial institution, investment company, insurance company or association, or...

Section 10-648 - Tax Status - (a) The Authority is exempt from any requirement to pay...

Section 10-649 - School Facilities Construction and Improvements -- Powers of Authority -- Source of Funds -- Bond Issue -- Characteristics of Bonds -- Approvals Needed -- Total Debt Service -- Annual Reports - (a) (1) Except as provided in § 10–650 of this...

Section 10-650 - Projects Funded From Supplemental Public School Construction Financing Fund and the Supplemental Public School Construction Facilities Fund -- Allocation of Bond Proceeds to Projects Approved by Interagency Commission on School Const... - (a) (1) Except as provided in paragraphs (2), (3), and...

Part VII - Funds

Section 10-651 - Baltimore Convention Financing Fund - (a) There is a Baltimore Convention Financing Fund. (b) (1)...

Section 10-652 - Camden Yards Financing Fund - (a) There is a Camden Yards Financing Fund. (b) The...

Section 10-653 - Hippodrome Performing Arts Financing Fund - (a) There is a Hippodrome Performing Arts Financing Fund. (b)...

Section 10-654 - Montgomery County Conference Financing Fund - (a) There is a Montgomery County Conference Financing Fund. (b)...

Section 10-655 - Ocean City Convention Financing Fund - (a) There is an Ocean City Convention Financing Fund. (b)...

Section 10-656 - Baltimore City Public School Construction Financing Fund - (a) There is a Baltimore City Public School Construction Financing...

Section 10-657 - Baltimore City Public School Construction Facilities Fund - (a) There is a Baltimore City Public School Construction Facilities...

Section 10-657.1 - Supplemental Facilities Fund - (a) There is a Supplemental Facilities Fund. (b) (1) The...

Section 10-657.2 - Racing and Community Development Financing Fund -- Use by Authority -- Funding -- Investments - (a) There is a Racing and Community Development Financing Fund....

Section 10-657.3 - Racing and Community Development Facilities Fund -- Use by Authority -- Funding -- Investments - (a) There is a Racing and Community Development Facilities Fund....

Section 10-657.4 - Hagerstown Multi-Use Sports and Events Facility Fund -- Purpose -- Administration -- Nature of Fund -- Items Included in Fund -- Investments - (a) In this section, “Fund” means the Hagerstown Multi–Use Sports...

Part VIII - Short Title

Section 10-658 - Supplemental Public School Construction Financing Fund -- Fund Used to Implement Subtitle -- Items Included in Fund -- Investments -- Money Supplemental - (a) There is a Supplemental Public School Construction Financing Fund....

Section 10-658.1 - Supplemental Public School Construction Financing Fund -- Fund Used to Implement Subtitle -- Items Included in Fund -- Investments -- Money Supplemental - (a) There is a Supplemental Public School Construction Facilities Fund....

Section 10-659 - Short Title - This subtitle may be cited as the Maryland Stadium Authority...

Subtitle 7 - Maryland Venture Capital Trust

Section 10-701 - Definitions - (a) In this subtitle the following words have the meanings...

Section 10-702 - Legislative Findings; Intent - (a) The General Assembly finds that: (1) small businesses are...

Section 10-703 - Construction of Subtitle - This subtitle shall be liberally construed to accomplish its purposes.

Section 10-704 - Established - (a) There is a Maryland Venture Capital Trust. (b) The...

Section 10-705 - Board of Trustees - (a) There is a Board of Trustees of the Trust....

Section 10-706 - Applicability of Other Laws - (a) The Trust is: (1) exempt from the General Procurement...

Section 10-707 - Powers - (a) The Trust may: (1) solicit and accept for investment...

Section 10-708 - Preferred Proposals - The Board shall give preference to venture capital fund proposals...

Section 10-709 - Seed Capital Investments - Seed capital financing may not exceed $1,000,000 for a single...

Section 10-710 - Liability of State - A debt, claim, obligation, or liability of the Trust is...

Section 10-711 - Tax Status - The Trust is exempt from taxation by the State and...

Section 10-712 - Audits - (a) Each year, an independent auditor approved by the State...

Subtitle 8 - Maryland Clean Energy Center

Part I - General Provisions

Section 10-801 - Definitions - (a) In this subtitle the following words have the meanings...

Section 10-802 - Legislative Findings; Purpose; Intent - (a) The General Assembly finds that: (1) the United States...

Section 10-803 - Construction and Effect of Subtitle - (a) This subtitle shall be liberally construed to carry out...

Part II - Maryland Clean Energy Center

Section 10-806 - Established - (a) There is a Maryland Clean Energy Center. (b) The...

Section 10-807 - Board of Directors - (a) A Board of Directors shall manage the Center and...

Section 10-808 - Officers - From among the members of the Board: (1) the Governor...

Section 10-809 - Meetings; Quorum - (a) The Board shall determine the times and places of...

Section 10-810 - Committees - (a) (1) The Board shall establish an Advisory Committee. (2)...

Section 10-811 - Executive Director - (a) (1) Subject to the approval of the Governor, the...

Section 10-812 - Legal Advisor - (a) The Attorney General is the legal advisor to the...

Section 10-813 - Staff; Consultants - The Center may retain any necessary accountants, engineers, financial advisors,...

Section 10-814 - Applicability of Other Laws - (a) Except as provided in subsections (b), (c), and (e)...

Section 10-815 - Findings of Board - A finding by the Board concerning the public purpose of...

Section 10-816 - Accounting; Fiscal Year - (a) The Center shall establish a system of financial accounting,...

Section 10-817 - Money of Center - (a) The Center may create and administer the accounts that...

Section 10-818 - Inspection of Public Records - (a) (1) The Executive Director and each other officer authorized...

Section 10-819 - Powers -- in General - The Center may: (1) adopt bylaws for the conduct of...

Section 10-820 - Powers -- Grants and Investments - The Center may make grants to or provide equity investment...

Section 10-821 - Powers -- Projects - The Center may: (1) acquire, develop, improve, manage, market, license,...

Section 10-822 - Powers -- Debt - The Center may: (1) borrow money and issue bonds to...

Section 10-823 - Dissemination of Information; Cooperation and Consultation With Other Units - (a) The Center may disseminate information and materials pertinent to...

Section 10-824 - Tax Status - The Center is exempt from State and local taxes.

Section 10-825 - Audit - (a) The books and records of the Center are subject...

Section 10-826 - Annual Report - (a) On or before October 1 of each year, the...

Part III - Maryland Energy Innovation Institute

Section 10-828 - Definitions - (a) In this part the following words have the meanings...

Section 10-829 - Maryland Energy Innovation Institute Established - (a) There is a Maryland Energy Innovation Institute. (b) The...

Section 10-830 - Advisory Board of the Institute - (a) (1) There is an Advisory Board of the Institute....

Section 10-831 - Meetings - (a) The Institute Board shall determine the times and places...

Section 10-832 - Director - (a) (1) The Director of the University of Maryland Energy...

Section 10-833 - Staff; Consultants - The Institute may retain any staff or consultants.

Section 10-834 - Powers - (a) The Institute may: (1) maintain offices at the University...

Section 10-835 - Maryland Energy Innovation Fund - (a) (1) There is a Maryland Energy Innovation Fund in...

Section 10-836 - Tax Exemption - The Institute is exempt from State and local taxes.

Section 10-837 - Audits - The books and records of the Institute are subject to...

Section 10-838 - Institute and Center Are Independent Entities - The Institute and the Center are independent entities that are...

Section 10-839 - Reports - (a) On or before October 1 each year, the Institute...

Part IV - Bonds

Section 10-840 - General Authorization - (a) (1) The Center may periodically: (i) issue bonds for...

Section 10-841 - Trust Agreement - (a) The Center may secure bonds by a trust agreement....

Section 10-842 - Legal Investments - Bonds are securities: (1) in which any of the following...

Section 10-843 - Liability; Full Faith and Credit - (a) A bond: (1) is not: (i) a debt or...

Section 10-844 - Rates, Rents, Fees, Charges - (a) The Center may: (1) fix and collect rates, rents,...

Section 10-845 - Pledge - (a) (1) Any pledge of revenues and other money under...

Section 10-846 - Use of Bond Proceeds and Revenues - (a) Proceeds from the sale of bonds and other revenues...

Section 10-847 - Refunding Bonds - (a) (1) The Center may issue bonds to refund outstanding...

Section 10-848 - Bond Anticipation Notes - (a) The Center may issue negotiable bond anticipation notes in...

Section 10-849 - Title Conveyance; Release of Security - (a) The Center shall convey title to a project and...

Section 10-850 - Enforcement Authority - (a) A bondholder, a holder of any coupons attached to...

Section 10-851 - Tax Status - (a) The Center, its agent, or its lessee is not...

Part V - Short Title

Section 10-854 - Short Title - This subtitle may be cited as the “Maryland Clean Energy...

Subtitle 9 - Maryland Public-Private Partnership Marketing Corporation

Section 10-901 - Definitions - (a) In this subtitle the following words have the meanings...

Section 10-902 - Corporation Established - (a) There is a Maryland Public–Private Partnership Marketing Corporation. (b)...

Section 10-903 - Board of Directors - (a) A Board of Directors shall manage the Corporation and...

Section 10-904 - Executive Director - (a) The Corporation shall employ an Executive Director. (b) The...

Section 10-905 - Economic Development Marketing Fund - (a) In this section, “Fund” means the Economic Development Marketing...

Section 10-906 - Legal Advisor - (a) The Attorney General is the legal advisor to the...

Section 10-907 - Advisors and Consultants - The Corporation may retain any necessary accountants, financial advisors, or...

Section 10-908 - Applicability of Other Laws - (a) Except as provided in subsections (b), (c), and (e)...

Section 10-909 - Powers of Corporation - The Corporation may: (1) adopt bylaws for the conduct of...

Section 10-910 - Corporate Tax Exemption - The Corporation is exempt from State and local taxes.

Section 10-911 - Audits - The books and records of the Corporation are subject to...

Section 10-912 - Reports - (a) On or before October 1 of each year, the...

Title 11 - Military Installation Support

Subtitle 2 - Maryland Military Installation Council

Section 11-201 - Council - In this subtitle, “Council” means the Maryland Military Installation Council.

Section 11-202 - Established - There is a Maryland Military Installation Council.

Section 11-203 - Membership; Tenure; Compensation - (a) The Council consists of the following members: (1) three...

Section 11-204 - Chair - The Governor shall designate the chair of the Council.

Section 11-205 - Staff - The Department shall provide staff support to the Council.

Section 11-206 - Duties - The Council shall make reasonable efforts to: (1) identify the...

Section 11-207 - Annual Reports - On or before December 31 of each year, the Council...

Subtitle 3 - Local Redevelopment Authorities

Section 11-301 - Definitions - (a) In this subtitle the following words have the meanings...

Section 11-302 - Legislative Findings; Intent - (a) The General Assembly finds that: (1) the economy of...

Section 11-303 - Construction of Subtitle - This subtitle is self-executing and fully authorizes the Secretary to...

Section 11-304 - Incorporation - (a) The Secretary shall execute and file proposed articles of...

Section 11-305 - Established - (a) An authority is a body politic and corporate and...

Section 11-306 - Board of Directors - (a) A Board of Directors shall manage the affairs of...

Section 11-307 - Officers - From among its members, the Board shall elect a chair,...

Section 11-308 - Quorum - A majority of the voting Board members serving at the...

Section 11-309 - Committees - (a) (1) The Board shall establish a finance committee. (2)...

Section 11-310 - Executive Director - (a) (1) The Board shall appoint the Executive Director of...

Section 11-311 - Staff; Consultants - (a) The Board shall approve additional professional and clerical staff...

Section 11-312 - Applicability of Other Laws - (a) Except as otherwise provided in this section, in exercising...

Section 11-313 - Accounting; Fiscal Year - (a) The authority shall establish a system of financial accounting,...

Section 11-314 - Money of Authority - (a) The authority may establish any accounts that it requires....

Section 11-315 - Powers -- in General - The authority may: (1) adopt bylaws for the conduct of...

Section 11-316 - Powers -- Projects - The authority may: (1) acquire, improve, develop, manage, market, lease...

Section 11-317 - Powers -- Borrowing Authority - The authority may: (1) borrow money to finance costs of...

Section 11-318 - Bond Authorization - To carry out this subtitle, the Maryland Economic Development Corporation...

Section 11-319 - Liability; Full Faith and Credit - An obligation of the authority is not a debt, liability,...

Section 11-320 - Project Financing - (a) The authority may: (1) lend or otherwise make available...

Section 11-321 - Rates and Charges; Revenues - (a) The authority may: (1) fix and collect rates or...

Section 11-322 - Tax Status - (a) Except as provided in subsection (b) of this section,...

Section 11-323 - Audit - (a) (1) As soon as practical after the close of...

Section 11-324 - Annual Report - (a) On or before October 1 of each year, the...

Section 11-325 - Short Title - This subtitle may be cited as the Maryland Local Military...

Subtitle 4 - Bainbridge Development Corporation

Section 11-401 - Definitions - (a) In this subtitle the following words have the meanings...

Section 11-402 - Established - (a) There is a Bainbridge Development Corporation. (b) The Corporation...

Section 11-403 - Board of Directors - (a) A Board of Directors shall manage the affairs of...

Section 11-404 - Officers - From among its members, the Board shall elect a chair,...

Section 11-405 - Quorum - (a) Five members of the Board are a quorum. (b)...

Section 11-406 - Executive Director - (a) (1) Subject to the approval of the County Commissioners,...

Section 11-407 - Staff; Consultants - (a) The Board shall approve additional professional and clerical staff...

Section 11-408 - Applicability of Other Laws - (a) Except as otherwise provided in this section, in exercising...

Section 11-409 - Accounting; Fiscal Year - (a) The Corporation shall establish a system of financial accounting,...

Section 11-410 - Money of Corporation - (a) The Corporation may establish any accounts that it requires....

Section 11-411 - Powers -- in General - The Corporation may: (1) adopt bylaws for the conduct of...

Section 11-412 - Powers -- Projects - The Corporation may: (1) acquire, improve, develop, manage, market, lease...

Section 11-413 - Powers -- Borrowing Authority - The Corporation may: (1) borrow money to finance costs of...

Section 11-414 - Bond Authorization - To carry out this subtitle, the Maryland Economic Development Corporation...

Section 11-415 - Liability; Full Faith and Credit - An obligation of the Corporation is not a debt, liability,...

Section 11-416 - Project Financing - The Corporation may: (1) lend or otherwise make available its...

Section 11-417 - Rates and Charges; Revenues - (a) The Corporation may: (1) fix and collect rates or...

Section 11-418 - Tax Status - (a) Except as provided in subsection (b) of this section,...

Section 11-419 - Advisory Board - (a) The Board shall establish a Bainbridge Development Advisory Board....

Section 11-420 - Audit - (a) (1) As soon as practical after the close of...

Section 11-421 - Annual Report - (a) On or before October 1 of each year, the...

Title 12 - Local Development Authorities and Resources

Subtitle 1 - Economic Development Revenue Bond Act

Section 12-101 - Definitions - (a) In this subtitle the following words have the meanings...

Section 12-102 - Construction and Effect of Subtitle - (a) This subtitle shall be liberally construed to accomplish its...

Section 12-103 - Legislative Findings; Purposes of Subtitle - (a) The General Assembly finds that: (1) conditions of unemployment...

Section 12-104 - State Policy - It is the policy of the State to allow the...

Section 12-105 - Industrial Development Authorities -- in General - (a) To accomplish one or more of the legislative purposes...

Section 12-106 - Industrial Development Authorities -- Board of Directors - (a) (1) Subject to paragraph (4) of this subsection, the...

Section 12-107 - Administration - (a) The board of directors of an authority shall govern...

Section 12-108 - Benefit of Net Earnings - Except as necessary to pay debt service or implement the...

Section 12-109 - Powers of Authority, County, and Municipal Corporation - (a) (1) Except as limited by its articles of incorporation,...

Section 12-110 - Bonds - (a) Notwithstanding any limitation of law, a public body may...

Section 12-111 - Authorizing Resolution - (a) For each issue of its bonds, the legislative body...

Section 12-112 - Manner and Price of Sale of Bonds; Applicability of Local Government Article - (a) (1) Bonds shall be sold in the manner, at...

Section 12-113 - Payment of Bonds - (a) (1) A bond and the interest on a bond...

Section 12-114 - Conclusive Presumption of Finding by Public Body - A finding by the legislative body of a county or...

Section 12-115 - Alternative Procedures for Bond Issuance - Instead of the procedures under this subtitle, a municipal corporation,...

Section 12-116 - Tax Status - The principal of and interest on bonds, the transfer of...

Section 12-117 - Lease or Contract as Security for Bond - (a) This section applies to a lease or contract under...

Section 12-118 - Short Title - This subtitle may be cited as the Maryland Economic Development...

Subtitle 2 - Tax Increment Financing Act

Section 12-201 - Definitions - (a) In this subtitle the following words have the meanings...

Section 12-202 - Construction and Application of Subtitle - (a) (1) This subtitle is self-executing. (2) A political subdivision...

Section 12-203 - District Designations - (a) Before issuing bonds, the governing body of the political...

Section 12-204 - Bonds -- Authorized - (a) Notwithstanding any limitation of law, an issuer may issue...

Section 12-205 - Conditions of Issuance - (a) A bond: (1) may be in bearer form; (2)...

Section 12-206 - Payment of Bonds - (a) Bonds shall be payable from the special fund established...

Section 12-207 - Application of Proceeds - (a) Except as provided in subsections (b) and (e) of...

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Maryland Statutes Economic Development Division II - Independent and Regional Development Units and Resources

Maryland Statutes
Economic Development
Division II - Independent and Regional Development Units and Resources