reglab/housing_qa huggingface dataset:
MD. Economic Development Code Ann. §  5-568 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 5 - Economic Development and Financial Assistance Programs|Subtitle 5 - Maryland Small Business Development Financing Authority|Part VI - Small Business Surety Bond Program|Section 5-568 - Surety -- Authority as Guarantor

    (a)    The Authority may guarantee a surety up to the lesser of 90% or $2,250,000 of its loss under a bid bond, payment bond, or performance bond on a contract financed by the federal government, a state government, a local government, a private entity, or a utility that the Public Service Commission regulates.    (b)    The term of a guaranty under this part may not exceed the contract term, including:        (1)    the maintenance or warranty period required by the contract; and        (2)    the period during which the surety may be liable for latent defects.    (c)    The Authority may vary the terms and conditions of a guaranty based on:        (1)    the Authority’s history of experience with a surety; and        (2)    any other factor the Authority considers relevant.
MD. Economic Development Code Ann. §  5-569 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 5 - Economic Development and Financial Assistance Programs|Subtitle 5 - Maryland Small Business Development Financing Authority|Part VI - Small Business Surety Bond Program|Section 5-569 - Surety -- Authority as Surety

    (a)    The Authority may execute and perform a bid bond, performance bond, and payment bond as a surety for the benefit of a principal in connection with a contract financed by the federal government or a state government, a local government, a private entity, or a utility regulated by the Public Service Commission.    (b)    (1)    This subsection does not apply if the sources of funding for the bonds are grants.        (2)    The bonds may not exceed $2,500,000 each.    (c)    Bonds are subject to the approval of the Authority based on the bond worthiness of the principal.
MD. Economic Development Code Ann. §  5-570 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 5 - Economic Development and Financial Assistance Programs|Subtitle 5 - Maryland Small Business Development Financing Authority|Part VI - Small Business Surety Bond Program|Section 5-570 - Economic Impact of Contract

    (a)    The Authority may only approve a guaranty or a bond under this part if the Authority determines that the contract, for which a bond is sought to be guaranteed or issued, will have a substantial economic impact.    (b)    To determine the economic impact of a contract, the Authority may consider:        (1)    the amount of the guaranty obligation;        (2)    the terms of the bond to be guaranteed;        (3)    the number of new jobs that the contract to be bonded will create; and        (4)    any other factor that the Authority considers relevant.
MD. Economic Development Code Ann. §  5-571 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 5 - Economic Development and Financial Assistance Programs|Subtitle 5 - Maryland Small Business Development Financing Authority|Part VI - Small Business Surety Bond Program|Section 5-571 - Surety Bonding Line Authorized

    The Authority may establish a surety bonding line to issue or guarantee multiple bonds to a principal within preapproved terms, conditions, and limitations.
MD. Economic Development Code Ann. §  5-572 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 5 - Economic Development and Financial Assistance Programs|Subtitle 5 - Maryland Small Business Development Financing Authority|Part VI - Small Business Surety Bond Program|Section 5-572 - Qualifications of Principal; Bond Requirements

    (a)    To qualify for financial assistance under this part the principal shall satisfy the Authority that the principal:        (1)    is of good moral character or is owned by individuals of good moral character;        (2)    as determined from creditors, employers, and other individuals who have personal knowledge, is an individual with a reputation for financial responsibility or is owned by individuals, a majority of whom have a reputation for financial responsibility;        (3)    is a resident of the State or the principal place of business of the applicant is in the State; and        (4)    is unable to obtain adequate bonding on reasonable terms through normal channels.    (b)    To qualify for financial assistance under this part the principal shall certify to the Authority, and the Authority shall be satisfied, that:        (1)    a bond is required to bid on a contract or to serve as prime contractor or subcontractor;        (2)    a bond cannot be obtained on reasonable terms and conditions without assistance from the Program; and        (3)    the principal will not subcontract more than 75% of the monetary value of the contract.
MD. Economic Development Code Ann. §  5-573 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 5 - Economic Development and Financial Assistance Programs|Subtitle 5 - Maryland Small Business Development Financing Authority|Part VI - Small Business Surety Bond Program|Section 5-573 - Application

    (a)    To apply for financial assistance from the Program under this part, a principal and, if applicable, a surety shall submit to the Authority an application on the form that the Authority provides.    (b)    The application shall include:        (1)    a detailed description of the project;        (2)    an itemization of known and estimated costs;        (3)    the total investment required to perform the contract;        (4)    the working capital available to the principal;        (5)    the bonding assistance sought;        (6)    information that demonstrates the inability of the principal to obtain adequate bonding on reasonable terms and conditions through normal channels without assistance from the Program;        (7)    a current balance sheet, a profit and loss statement, and credit references about the financial status of the principal;        (8)    a schedule of the status of existing and pending contracts; and        (9)    any other relevant information the Authority requests.    (c)    The Authority may require an applicant to provide an audited balance sheet before the Authority approves or denies the application.    (d)    The Authority may not approve a guaranty or bond under this part for a principal that has defaulted on a loan or guaranty from the Authority unless:        (1)    2 years have passed since the time of the default; and        (2)    the principal has cured any default in any financing program administered by the Department.
MD. Economic Development Code Ann. §  5-574 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 5 - Economic Development and Financial Assistance Programs|Subtitle 5 - Maryland Small Business Development Financing Authority|Part VI - Small Business Surety Bond Program|Section 5-574 - Premiums and Fees

    (a)    In its sole discretion, the Authority may set:        (1)    the premiums and fees for providing bonding assistance under the Program; and        (2)    the terms and conditions when the premiums and fees are payable.    (b)    The premiums and fees may vary in amount among transactions and at different stages of a transaction.    (c)    A determination by the Authority on premiums and fees remains effective for as long as the bonding assistance provided by the Authority is in effect.
MD. Economic Development Code Ann. §  5-575 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 5 - Economic Development and Financial Assistance Programs|Subtitle 5 - Maryland Small Business Development Financing Authority|Part VI - Small Business Surety Bond Program|Section 5-575 - Prohibited Acts; Penalty

    (a)    A person may not knowingly make or cause to be made a false statement or report in an application or document submitted to the Authority under this part.    (b)    A person may not knowingly make or cause to be made a false statement or report to influence an action of the Authority under this part:        (1)    on an application for assistance; or        (2)    affecting bonding assistance whether or not the assistance has been extended.    (c)    A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not exceeding 6 months or a fine not exceeding $1,000 or both.
MD. Economic Development Code Ann. §  6-601 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part I - Definitions|Section 6-601 - Definitions

    (a)    In this subtitle the following words have the meanings indicated.    (b)    “Authority” means the Maryland E–Nnovation Initiative Fund Authority established under § 6–605 of this subtitle.    (c)    “Endowment proceeds” means those investment earnings accruing to a research endowment of a nonprofit institution of higher education and available for expenditure by the institution in accordance with  § 6–612 of this subtitle.    (d)    “Fund” means the Maryland E–Nnovation Initiative Fund created under § 6–604 of this subtitle.    (e)    “Governing board” has the meaning stated in § 10–101 of the Education Article.    (f)    “Governing body” means:        (1)    a governing board;        (2)    the governing entity of a private nonprofit institution of higher education; or        (3)    the governing entity of a regional higher education center.    (g)    (1)    “Nonprofit institution of higher education” means an institution of postsecondary education located in the State, that receives State funds in the annual operating budget and that generally limits enrollment to graduates of secondary schools and awards degrees at either the associate, baccalaureate, or graduate level.        (2)    “Nonprofit institution of higher education” includes public and private nonprofit institutions of higher education located in the State.    (h)    “Private nonprofit institution of higher education” has the meaning stated in § 10–101 of the Education Article.    (i)    “Program” means the Maryland E–Nnovation Initiative Program under this subtitle.    (j)    “Qualified donation” means any private donation, gift, irrevocable pledge, or bequest to a research endowment in accordance with § 6–613 of this subtitle.    (k)    “Regional higher education center” has the meaning stated in § 10–101 of the Education Article.    (l)    “Research endowment” means an account established at or administered by a nonprofit institution of higher education in accordance with § 6–612 of this subtitle.
MD. Economic Development Code Ann. §  6-604 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part II - Maryland E-Nnovation Initiative Fund and Authority|Section 6-604 - Maryland E-Nnovation Initiative Fund

    (a)    There is a Maryland E–Nnovation Initiative Fund in the Department.    (b)    The Secretary shall manage and supervise the Fund.    (c)    (1)    The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.        (2)    The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.    (d)    The Fund consists of:        (1)    revenue distributed to the Fund under §  2–202(a)(1) of the Tax – General Article;        (2)    money appropriated in the State budget to the Fund; and        (3)    any other money from any other source accepted for the benefit of the Fund.    (e)    For each of fiscal years 2016 through 2021, the Governor shall include in the budget bill an appropriation to the Fund in an amount that when combined with the amount estimated to be distributed to the Fund under subsection (d)(1) of this section equals at least $8,500,000.    (f)    The Department may use the Fund to:        (1)    finance research endowments at nonprofit institutions of higher education in scientific and technical fields of study; and        (2)    pay the related administrative, legal, and actuarial expenses of the Department.    (g)    (1)    The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.        (2)    Any investment earnings of the Fund shall be credited to the Fund.    (h)    Expenditures from the Fund may be made only in accordance with the State budget.
MD. Economic Development Code Ann. §  6-605 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part II - Maryland E-Nnovation Initiative Fund and Authority|Section 6-605 - Maryland E-Nnovation Initiative Fund Authority

    There is a Maryland E–Nnovation Initiative Fund Authority in the Department.
MD. Economic Development Code Ann. §  6-606 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part II - Maryland E-Nnovation Initiative Fund and Authority|Section 6-606 - Membership

    The Authority consists of:        (1)    the Executive Director of the Maryland Technology Development Corporation, or the Executive Director’s designee;        (2)    the Executive Vice President of the Maryland Technology Development Corporation, or the Executive Vice President’s designee;        (3)    the Secretary of Commerce, or the Secretary’s designee;        (4)    the Managing Director of the Maryland Venture Fund, or the Managing Director’s designee;        (5)    the Chancellor of the University System of Maryland, or the Chancellor’s designee; and        (6)    two individuals from the private sector not affiliated with higher education appointed by the President of the Senate and the Speaker of the House to the Maryland Innovation Initiative under § 10–455 of this article.
MD. Economic Development Code Ann. §  6-607 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part II - Maryland E-Nnovation Initiative Fund and Authority|Section 6-607 - Chair; Officers

    (a)    The chair of the Authority shall  be chosen by the members of the Authority.    (b)    The Authority shall determine the manner of election of officers and their terms of office.
MD. Economic Development Code Ann. §  6-608 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part II - Maryland E-Nnovation Initiative Fund and Authority|Section 6-608 - Quorum; Compensation

    (a)    (1)    Four members of the Authority are a quorum.        (2)    An act of the Authority shall be approved by a majority vote of the members attending a meeting at which a quorum is present.    (b)    A member of the Authority:        (1)    may not receive compensation as a member of the Authority; but        (2)    is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.
MD. Economic Development Code Ann. §  6-609 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part II - Maryland E-Nnovation Initiative Fund and Authority|Section 6-609 - Duties

    The Authority shall provide advice to and consult with the Department in connection with the administration of the Program under this subtitle.
MD. Economic Development Code Ann. §  6-612 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part III - Research Endowments|Section 6-612 - General Consideration

    (a)    The governing body of each nonprofit institution of higher education may create and administer one or more research endowments to receive funding from the Fund.    (b)    A research endowment consists of funds distributed by the Authority from the Fund in accordance with § 6–618 of this subtitle and qualified donations.    (c)    (1)    The governing body of a nonprofit institution of higher education may invest funds deposited into the research endowment in a manner consistent with other institutional endowments managed by the institution.        (2)    Any interest or other investment earnings on the funds invested are retained by the nonprofit institution of higher education to be used for the purposes set forth in this subtitle.    (d)    Investment earnings accruing to the research endowment of a nonprofit institution of higher education may be expended by the governing body of the institution only for the eligible uses under § 6–614 of this subtitle.    (e)    The governing body of a nonprofit institution of higher education is exempt from liability for any loss or decrease in value of the assets or income of a research endowment, unless the losses or decreases in value result from bad faith, gross negligence, or intentional misconduct.    (f)    The governing body of a nonprofit institution of higher education shall issue rules for the administration of research endowments that fulfill the purposes and requirements of this subtitle.
MD. Economic Development Code Ann. §  6-613 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part III - Research Endowments|Section 6-613 - Qualified Donations

    (a)    Private donations to a research endowment shall be considered a qualified donation if:        (1)    the donation or pledge is expressly or specifically restricted by the donor for one or more of the eligible uses under § 6–614 of this subtitle;        (2)    the individual donation or pledge is a minimum of $500,000 or is bundled with other qualified donations to meet the $500,000 threshold; and        (3)    the nonprofit institution of higher education accepts the donation from individuals, partnerships, associations, public or private for–profit and nonprofit corporations, or nongovernmental foundations.    (b)    Notwithstanding subsection (a) of this section, a nonprofit institution of higher education may designate unrestricted gifts or bequests, or a portion of an unrestricted gift or bequest, for use as a qualified donation.    (c)    A qualified donation excludes:        (1)    any donation received by a nonprofit institution of higher education prior to October 1, 2014;        (2)    educational or general fees, auxiliary fees, or other student fees generated by the institution;        (3)    proceeds from promissory notes, bonds, loans, or other instruments evidencing an indebtedness or any other obligation of repayment by the governing body of a nonprofit institution of higher education to the maker of the instrument; or        (4)    any other funds received from the State or federal government.    (d)    (1)    The president of each nonprofit institution of higher education or the president’s designee shall make the initial determination of whether a donation constitutes a qualified donation.        (2)    The president of the nonprofit institution of higher education shall provide a report to the governing body of the institution at least once each fiscal year regarding the amount of qualified donations the institution has received.
MD. Economic Development Code Ann. §  6-614 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part III - Research Endowments|Section 6-614 - Expenditure of Endowment Funds

    (a)    Endowment proceeds shall be expended by a nonprofit institution of higher education to further basic and applied research in scientific and technical fields of study as designated by the Authority that offer promising and significant economic impacts and the opportunity to develop clusters of technological innovation in the State, including:        (1)    physical sciences;        (2)    life and neuro sciences;        (3)    engineering;        (4)    mathematical and computational sciences;        (5)    regulatory science;        (6)    autonomous systems;        (7)    aeronautical and space science;        (8)    environmental sciences;        (9)    behavioral and language science;        (10)    health sciences;        (11)    agriculture; or        (12)    cybersecurity.    (b)    Endowment proceeds may be expended by a nonprofit institution of higher education for:        (1)    the payment of the base salaries of newly endowed department chairs, new professorship positions, new research scientists, or new research staff positions, including research technicians and support personnel, and to fund affiliated graduate or undergraduate student research fellowships, if the positions or fellowships are engaged in the areas of research identified in subsection (a) of this section; or        (2)    the purchase of basic infrastructure, including laboratory and scientific equipment or other essential equipment and materials, related to an area of research identified in subsection (a) of this section.    (c)    An individual in a position that is funded by endowment proceeds under subsection (b)(1) of this section shall:        (1)    work at least one day each week in support of a federal laboratory or associated federal laboratory research support organization;        (2)    hold a joint appointment or secondary position at another nonprofit institution of higher education in the State; or        (3)    work at least one day each week in support of entrepreneurial activities with a company engaged in one or more of the research areas identified in subsection (a) of this section.    (d)    The Authority shall issue eligibility criteria regarding the expenditure of endowment proceeds to pay the base salaries of personnel, fund student fellowships, and purchase basic infrastructure.
MD. Economic Development Code Ann. §  6-615 (2021)
2021 Maryland Statutes|Economic Development|Division I - Secretary of Commerce and Department of Commerce|Title 6 - Economic Development Tax Incentives|Subtitle 6 - Maryland E-Nnovation Initiative Program|Part III - Research Endowments|Section 6-615 - Research Endowment Plans

    (a)    The governing body of each nonprofit institution of higher education shall submit a research endowment plan to the Authority prior to submitting its first request for a distribution of matching funds from the Fund.    (b)    The research plan shall include:        (1)    any information requested by the Authority to ensure compliance with the requirements of this subtitle; and        (2)    a demonstration of interest from qualified private donors to meet the criteria established by the Authority.