reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 5 - Maryland State Arts Council › Section 4-508 - General Powers

(a)    The exercise of the powers and performance of duties of the Council under this subtitle is subject to the approval of the Secretary.
(b)    The Council may:
(1)    adopt regulations to carry out this subtitle;
(2)    enter into contracts and agreements;
(3)    obtain services;
(4)    ask any other unit of the State for assistance and data that enable the Council to carry out its powers and duties;
(5)    accept federal money for any purpose of this subtitle;
(6)    accept gifts, donations, or bequests for any purpose of this subtitle; and
(7)    carry out this subtitle.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 5 - Maryland State Arts Council › Section 4-509 - Executive Director

(a)    (1)    With the approval of the Secretary, the Council shall appoint an Executive Director of the Council.
(2)    The Executive Director may not be a member of the Council.
(b)    (1)    The Executive Director serves at the pleasure of the Council, subject to the concurrence of the Secretary.
(2)    The Executive Director is a special appointment in the State Personnel Management System.
(c)    Subject to the policies of the Council and the administrative supervision of the Secretary, the Executive Director:
(1)    is the administrative officer of the Council staff;
(2)    shall appoint and remove employees of the Council; and
(3)    shall direct, administer, and supervise the activities of the Council staff.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 5 - Maryland State Arts Council › Section 4-510 - Authority; Annual Report

(a)    The Council may:
(1)    conduct a statewide survey of resources and needs in the arts;
(2)    determine the extent to which existing resources can fill the needs;
(3)    design new or expanded programs in the arts on its own or with arts organizations;
(4)    encourage and assist in the formation and activities of community arts councils;
(5)    provide technical and consultative assistance to arts organizations throughout the State;
(6)    provide logistical and financial assistance to encourage the touring of outstanding professional performances and exhibitions of art, from inside and outside the State, to communities throughout the State;
(7)    make awards for excellence in the arts;
(8)    make grants to arts organizations and individual artists;
(9)    cooperate with educational institutions and organizations to establish a higher level of education in and appreciation of the arts by students throughout the State;
(10)    explore the feasibility of regional arts programming in neighboring states and program exchange with other states, and implement the programs the Council considers advisable;
(11)    make recommendations to the Board of Public Works concerning appropriate aesthetic decorations, embellishments, accessories, and ornamentation to State projects, buildings, and property; and
(12)    conduct other programs consistent with this subtitle.
(b)    The Council:
(1)    shall publish an annual report; and
(2)    may publish other material.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 5 - Maryland State Arts Council › Section 4-511 - Interference Prohibited

In exercising its powers and performing its duties under this subtitle, the Council may not interfere with:
(1)    freedom of artistic expression; or
(2)    established or contemplated arts programs in any community.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 5 - Maryland State Arts Council › Section 4-512 - Funding

(a)    The Council is entitled to:
(1)    revenue distributed under § 2–202(a)(1)(ii) of the Tax – General Article; and
(2)    funding in accordance with the State budget.
(b)    The Council may treat nonstate, nonfederal contributions for programs of assistance to the arts as a special fund that is not subject to reversion under § 7-302 of the State Finance and Procurement Article.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 5 - Maryland State Arts Council › Section 4-513 - Annual Appropriation to the Baltimore Symphony Orchestra

(a)    For each of fiscal years 2020 and 2021, the Governor shall include in the State budget an annual appropriation to the Baltimore Symphony Orchestra of $1,600,000.
(b)    For each of fiscal years 2022 through 2026, the Governor shall include in the annual budget bill an appropriation to the Baltimore Symphony Orchestra as follows:
(1)    for fiscal year 2022, $1,500,000;
(2)    for fiscal year 2023, $1,300,000;
(3)    for fiscal year 2024, $1,100,000;
(4)    for fiscal year 2025, $900,000; and
(5)    for fiscal year 2026, $700,000.
(c)    (1)    On or before October 15 each year, beginning in 2022 and for the following 4 years, the Baltimore Symphony Orchestra shall submit a report to the Governor and, in accordance with § 2–1257 of the State Government Article, the Senate Budget and Taxation Committee and the House Appropriations Committee on the effectiveness of the funding provided under subsection (b) of this section.
(2)    The report shall include:
(i)    a complete statement on the financial condition of the Baltimore Symphony Orchestra; and
(ii)    an accounting of all financial receipts and expenditures.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 6 - Maryland Public Art Initiative Program › Section 4-601 - Definitions

(a)    In this subtitle the following words have the meanings indicated.
(b)    “Commission” means the Maryland Commission on Public Art.
(c)    “Fund” means the Maryland Public Art Fund.
(d)    “Program” means the Maryland Public Art Initiative Program.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 6 - Maryland Public Art Initiative Program › Section 4-602 - Maryland Public Art Initiative Program

(a)    There is a Maryland Public Art Initiative Program.
(b)    The purpose of the Program is to promote the installation of artwork in public facilities for the enrichment of the public.
(c)    Program money shall be used to:
(1)    acquire public art to be owned by the State;
(2)    preserve public art assets, including assets of the Commission; and
(3)    make grants to local governments.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 6 - Maryland Public Art Initiative Program › Section 4-603 - Maryland Commission on Public Art

(a)    There is a Maryland Commission on Public Art.
(b)    (1)    The Commission consists of the following 11 members:
(i)    as designated by the chair of the Council, either the Executive Director or a member of the Maryland State Arts Council established under Subtitle 5 of this title;
(ii)    as designated by the chair of the Trust, either the Director or a member of the Maryland Historical Trust established under Title 5A, Subtitle 3 of the State Finance and Procurement Article;
(iii)    as designated by the State Archivist, either the State Archivist or a member of the Commission on Artistic Property established under Title 9, Subtitle 10 of the State Government Article;
(iv)    the Comptroller or the Comptroller’s designee; and
(v)    seven public members appointed by the Secretary with the approval of the Governor.
(2)    (i)    The Secretary shall include as public members representatives of the artistic community who have professional expertise as artists, curators, art historians, art educators, or architects.
(ii)    A public member serves at the pleasure of the Secretary.
(c)    With the approval of the Governor, the Secretary shall designate a chair from among the public members of the Commission.
(d)    A member of the Commission:
(1)    may not receive compensation as a member of the Commission; but
(2)    is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.
(e)    The Maryland State Arts Council shall provide staff to the Commission.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 6 - Maryland Public Art Initiative Program › Section 4-604 - Duties

The Commission shall:
(1)    work with the Department of General Services, the State Department of Transportation, and the University System of Maryland to ensure that new public facilities constructed by State units include the installation of artwork;
(2)    allocate money from the Fund to commission artwork for installation at public facilities around the State;
(3)    establish selection panels to recommend artists and artwork to be funded by the Fund; and
(4)    make final recommendations concerning the disbursement of money allocated to the Program.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 6 - Maryland Public Art Initiative Program › Section 4-605 - Maryland Public Art Fund

(a)    There is a Maryland Public Art Fund.
(b)    The purpose of the Fund is to provide money to carry out the Program.
(c)    The Commission shall administer the Fund.
(d)    (1)    The Fund is a special, nonlapsing fund that is not subject to reversion under § 7–302 of the State Finance and Procurement Article.
(2)    The Treasurer shall hold the Fund and the Comptroller shall account for the Fund.
(e)    (1)    The Fund consists of:
(i)    money appropriated in the State budget for the Program; and
(ii)    any other money accepted for the benefit of the Fund from any other source.
(2)    Any investment earnings of the Fund shall be paid into the Fund.
(f)    It is the intent of the General Assembly that for each fiscal year, the Governor shall include in the operating or capital budget an appropriation not to exceed $1,000,000 for the Program.
(g)    The Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
(h)    Money in the Fund may only be spent:
(1)    to carry out the purposes of this subtitle; and
(2)    in accordance with the State budget process.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 6 - Maryland Public Art Initiative Program › Section 4-606 - Grants to Local Government

(a)    Before a grant is awarded to a local government under this subtitle, the local government shall provide and spend a matching fund.
(b)    A matching fund of a local government may not consist of:
(1)    money provided, directly or indirectly, from appropriated or unappropriated State money;
(2)    real property;
(3)    in kind contributions; or
(4)    money spent before June 1, 2005.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 6 - Maryland Public Art Initiative Program › Section 4-607 - Regulations

(a)    The Maryland State Arts Council shall adopt regulations to carry out the Program.
(b)    The regulations shall address:
(1)    procedures for artist and art selection;
(2)    composition of selection panels;
(3)    budget allocations for each project;
(4)    local community involvement; and
(5)    conservation and maintenance concerns.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 6 - Maryland Public Art Initiative Program › Section 4-608 - Ownership and Maintenance of Artwork

(a)    All artwork funded by the Program is the property of the Commission.
(b)    In cooperation with the Department of General Services, the Commission is responsible for the inventory, maintenance, and preservation of all artwork acquired through the Program.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 7 - Arts and Entertainment Districts › Section 4-701 - Definitions

(a)    In this subtitle the following words have the meanings indicated.
(b)    “Artistic work” means an original and creative work that:
(1)    is created, written, composed, or executed, either alone or with others; and
(2)    falls into one of the following categories:
(i)    a book or other writing;
(ii)    a play or performance of a play;
(iii)    a musical composition or the performance of a musical composition;
(iv)    a painting or other picture, including a photograph;
(v)    a sculpture;
(vi)    traditional or fine crafts, including works of cultural expression;
(vii)    the creation of a film or the acting within a film;
(viii)    the creation of a dance or the performance of a dance;
(ix)    the design or creation of original jewelry, clothing, or other functional art;
(x)    storytelling or a storytelling performance;
(xi)    a digital or new media design or performance; or
(xii)    any other product generated as a result of a work or combination of works listed in items (i) through (xi) of this paragraph.
(c)    “Arts and entertainment district” means a developed district of public and private uses that:
(1)    is distinguished by physical and cultural resources that play a vital role in the life and development of the community and contribute to the public through interpretive, educational, and recreational uses; and
(2)    ranges in size from a portion of a political subdivision to a regional district with a special coherence.
(d)    “Arts and entertainment enterprise” means a for–profit or nonprofit entity dedicated to creating, selling, or sharing artistic work.
(e)    “Political subdivision” means a county or municipal corporation.
(f)    “Qualifying residing artist” means an individual who:
(1)    owns or rents residential real property in the State;
(2)    conducts a business in any arts and entertainment district; and
(3)    derives income from the sale or performance within any arts and entertainment district of an artistic work that the individual wrote, composed, or executed, either alone or with others, in any arts and entertainment district.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 7 - Arts and Entertainment Districts › Section 4-702 - Scope of Subtitle

This subtitle does not apply to:
(1)    the creation or execution of artistic work for industry–oriented or industry–related production; or
(2)    tailoring services, clothing alteration, or jewelry repair.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 7 - Arts and Entertainment Districts › Section 4-703 - Application

(a)    The following political subdivisions may apply to the Secretary to designate an arts and entertainment district:
(1)    a political subdivision for an area within that political subdivision;
(2)    with the prior consent of the municipal corporation, a county, on its own behalf or on behalf of a municipal corporation, for an area in the municipal corporation; or
(3)    two or more political subdivisions jointly for an area astride their common boundaries.
(b)    The application shall:
(1)    be in the form and manner and contain the information that the Secretary requires by regulation;
(2)    contain sufficient information to allow the Secretary to determine if the proposed district qualifies under §§ 4-701(c) and 4-704(a) of this subtitle; and
(3)    be submitted for a political subdivision by its chief elected officer or, if none, its governing body.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 7 - Arts and Entertainment Districts › Section 4-704 - Designation

(a)    The Secretary may designate an area as an arts and entertainment district only if the area is a contiguous geographic area that is wholly within:
(1)    a priority funding area as provided under § 5–7B–02 of the State Finance and Procurement Article; or
(2)    a qualified opportunity zone designated under § 1400Z–1 of the Internal Revenue Code in Allegany County, Garrett County, Somerset County, or Wicomico County.
(b)    (1)    Within 60 days after a submission date, the Secretary may designate one or more arts and entertainment districts from among the areas in the applications timely submitted.
(2)    A county may not receive more than one arts and entertainment district designation in a calendar year.
(c)    The designation of the Secretary is final.
(d)    At any time, a political subdivision may reapply to the Secretary to designate as an arts and entertainment district an area that is not so designated.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 7 - Arts and Entertainment Districts › Section 4-705 - Expansion; Establishment in Queen Anne's County

(a)    A political subdivision may apply to the Secretary to expand an existing arts and entertainment district in the same manner as the political subdivision would apply to designate a new arts and entertainment district.
(b)    (1)    Notwithstanding subsection (a) of this section and § 4–704(a) of this subtitle, in Queen Anne’s County, the governing body may establish an arts and entertainment district composed of noncontiguous areas in the county, including noncontiguous areas within a municipal corporation in the county, subject to the Secretary’s designation of the district as an arts and entertainment district in the county.
(2)    In applying for the establishment of an arts and entertainment district in accordance with paragraph (1) of this subsection, the Queen Anne’s County governing body shall comply with the provisions of § 4–703 of this subtitle.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 7 - Arts and Entertainment Districts › Section 4-706 - Tax Status

(a)    In an arts and entertainment district:
(1)    each qualifying residing artist is eligible for the income tax subtraction modification under § 10-207(v) of the Tax - General Article;
(2)    the property tax credit under § 9-240 of the Tax - Property Article applies; and
(3)    the exemption from the admissions and amusement tax under § 4-104 of the Tax - General Article applies.
(b)    (1)    On or before July 1 preceding the effective date of its establishment, the Secretary shall notify the Comptroller that an arts and entertainment district is established.
(2)    The subtraction modification under § 10-207(v) of the Tax - General Article applies to each taxable year beginning after December 31 of the year in which the Secretary provides the notice required by paragraph (1) of this subsection.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 4 - Tourism, Film, and the Arts › Subtitle 8 - Special Fund for Preservation of Cultural Arts in Maryland › Section 4-801 - Special Fund for Preservation of Cultural Arts in Maryland

(a)    In this section, “Fund” means the Special Fund for Preservation of Cultural Arts in Maryland.
(b)    There is a Special Fund for Preservation of Cultural Arts in Maryland.
(c)    The purpose of the Fund is to provide supplemental grants to cultural arts organizations in the State that qualify for general operating support grants from the Maryland State Arts Council.
(d)    The Secretary of Commerce shall administer the Fund.
(e)    (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.
(f)    The Fund consists of:
(1)    revenue distributed to the Fund under § 2–202(a)(1)(ii) of the Tax – General Article; and
(2)    any other money from any other source accepted for the benefit of the Fund.
(g)    The Fund shall be used to provide supplemental grants for operating and programmatic improvements that strengthen the organizational capacity and financial stability of cultural arts organizations in the State that qualify for general operating support grants from the Maryland State Arts Council.
(h)    (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 General Fund of the State.
(i)    For each appropriation to the Fund, the Governor may:
(1)    include the funds in the State budget subject to appropriation by the General Assembly; or
(2)    transfer the funds by budget amendment from the Fund to the expenditure account of the Maryland State Arts Council.
(j)    Supplemental grants made from the Fund are supplemental to and may not take the place of funding that otherwise would be appropriated for qualifying organizations.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 1 - General Provisions › Section 5-101 - Duty of Department; Local Strategic Plans

(a)    The Department shall administer the State’s economic development and growth funds to facilitate the attraction, creation, expansion, and retention of businesses and jobs in the State.
(b)    The Department shall encourage local governments to develop, and assist local governments in developing, strategic plans for economic development.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 1 - General Provisions › Section 5-102 - Programs and Funds Administered by the Department. [Effective Until July 1, 2027]

The Department shall administer the State’s economic development and financial assistance programs and funds including:
(1)    the BRAC Revitalization and Incentive Zone Program, under Subtitle 13 of this title;
(2)    the Enterprise Fund, under Subtitle 6 of this title;
(3)    the Enterprise Zones Program, under Subtitle 7 of this title;
(4)    the Make Office Vacancies Extinct Program, under Subtitle 15 of this title;
(5)    the Maryland Economic Adjustment Fund, under Subtitle 2 of this title;
(6)    the Maryland Economic Development Assistance Authority and Fund, under Subtitle 3 of this title;
(7)    the Maryland Industrial Development Financing Authority, under Subtitle 4 of this title;
(8)    the Maryland Small Business Development Financing Authority, under Subtitle 5 of this title;
(9)    the Appalachian Regional Development Program, under Title 13, Subtitle 1 of this article;
(10)    jointly with the Department of Housing and Community Development, the Community Development Block Grant for Economic Development;
(11)    the Regional Institution Strategic Enterprise Zone Program under Subtitle 14 of this title; and
(12)    any other programs or funds designated by statute, the Governor, or the Secretary.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 1 - General Provisions › Section 5-103 - Transfer of Funds

(a)    This section applies notwithstanding any other law.
(b)    Subject to subsections (d) and (e) of this section, the Secretary may transfer money among any of the accounts that are:
(1)    in the Department or subject to its control; and
(2)    used to provide financial support of any kind.
(c)    Subject to subsections (d) and (e) of this section, the Secretary may transfer money to the Economic Development Opportunities Program Account established under § 7–314 of the State Finance and Procurement Article from any of the accounts that are:
(1)    in the Department or subject to its control; and
(2)    used to provide financial support of any kind.
(d)    A transfer under this section from the Industrial Development Fund shall comply with § 5-432 of this title.
(e)    A transfer under this section shall comply with the amendment process for appropriations established by § 7-209 of the State Finance and Procurement Article.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 1 - General Provisions › Section 5-104 - Specialized Small Business Investment Companies

(a)    The Secretary may:
(1)    invest in a specialized small business investment company created in accordance with the federal Small Business Investment Act of 1958; and
(2)    to the extent allowed by federal law, do anything necessary or convenient to fully participate in the formation and operation of a specialized small business investment company.
(b)    Notwithstanding any other law, the Secretary may use money to finance a specialized small business investment company from accounts within:
(1)    the Enterprise Fund established under Subtitle 6 of this title; and
(2)    the Maryland Small Business Development Financing Authority established under Subtitle 5 of this title.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 1 - General Provisions › Section 5-105 - Focus Areas, Enterprise Zones, and Brac Zones

When deciding whether to provide financial assistance for a business project, the Department shall consider whether the project will be located:
(1)    in an enterprise zone or a focus area as designated under Subtitle 7 of this title; or
(2)    in a BRAC Revitalization and Incentive Zone as designated under Subtitle 13 of this title.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 1 - General Provisions › Section 5-107 - Protection of Interest of Department

The Department may take all reasonable actions to protect the interests of the Department in its investments, collateral, loans, grants, and other property or interests relating to financing transactions, including expending funds from its general and special funds to acquire, dispose of, operate, protect, enhance, or maintain collateral or liens.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 2 - Maryland Economic Adjustment Fund › Section 5-201 - Definitions

(a)    In this subtitle the following words have the meanings indicated.
(b)    “Fund” means the Maryland Economic Adjustment Fund.
(c)    (1)    “Working capital” means money for current operations of a business.
(2)    “Working capital” includes money for supplies, materials, labor, equipment, rent, software, marketing, insurance, and fees for professional services.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 2 - Maryland Economic Adjustment Fund › Section 5-202 - Approval of Financial Assistance From Fund

(a)    Financial assistance from the Fund may be approved by the Secretary or the Secretary’s designee.
(b)    The exercise by the Department of the powers granted under this subtitle is the performance of an essential governmental function.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 2 - Maryland Economic Adjustment Fund › Section 5-205 - Loan -- Application

(a)    An applicant for a loan under this subtitle shall submit to the Department an application on the form that the Department requires.
(b)    The application shall include:
(1)    a detailed strategic business plan;
(2)    the amount of money required for the activities described in the strategic business plan;
(3)    the money available to the applicant without financial assistance from the Department;
(4)    the amount of financial assistance requested from the Department;
(5)    information relating to the financial status of the applicant, including, if applicable:
(i)    a current balance sheet;
(ii)    a profit and loss statement; and
(iii)    credit references; and
(6)    any other relevant information that the Department requests.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 2 - Maryland Economic Adjustment Fund › Section 5-206 - Loan -- Terms and Conditions

(a)    Except as otherwise provided in this subtitle, the Department may set the terms and conditions for loans and grants made under this subtitle.
(b)    The Department shall:
(1)    determine whether to approve loan requests from qualified applicants for loans under this subtitle;
(2)    set the terms and conditions for loans made under this subtitle; and
(3)    determine that the applicant was unable to obtain the financing necessary for the activities on affordable terms through the normal lending channels.
(c)    The maximum amount of a loan made with money from the Economic Development Administration of the United States Department of Commerce may not exceed the limit it sets by regulation.
(d)    The proceeds of a loan may be used for working capital, equipment, furnishings, fixtures, or the construction, rehabilitation, or purchase of real property for the activities that the Department approves.
(e)    The Department may authorize a flexible repayment schedule for a loan under this subtitle.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 2 - Maryland Economic Adjustment Fund › Section 5-207 - Loan -- Documents

(a)    The Department shall prepare the loan documents for loans under this subtitle.
(b)    The loan documents shall include:
(1)    the interest rate on the loan;
(2)    the amount of the loan;
(3)    repayment provisions for the loan; and
(4)    any other provision that the Department determines is necessary, including a provision on taking liens and security interests in real or personal property.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 2 - Maryland Economic Adjustment Fund › Section 5-208 - Remedies

(a)    If a recipient of a loan under this subtitle violates any provision of the loan documents or ceases to meet the requirements of this subtitle, the Department may, on reasonable notice to the loan recipient:
(1)    withhold further advances of loan proceeds until the loan recipient complies with the agreement or requirements; or
(2)    exercise any other remedy provided in the loan documents.
(b)    (1)    If a loan made under this subtitle is in default, the Department may foreclose on a mortgage or deed of trust held as security for the loan in the manner provided under the Maryland Rules for foreclosures in private transactions.
(2)    The Department may take title in the Department’s name to any property foreclosed and convey title to a bona fide purchaser.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 2 - Maryland Economic Adjustment Fund › Section 5-209 - False Statement or Report

(a)    A person may not knowingly make or cause to be made a false statement or report:
(1)    in an application or document provided to the Department; or
(2)    to influence Department action affecting financial assistance, whether or not the assistance already has been extended.
(b)    A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not exceeding 5 years or a fine not exceeding $50,000 or both.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part I - General Provisions › Section 5-302 - Scope of Subtitle

Assistance for a Tier I county project is available to a Tier I county under this subtitle only if:
(1)    the county has developed a local strategic plan for economic development in consultation with the municipal corporations located in the county, if any;
(2)    the county has submitted the plan to the Secretary for approval; and
(3)    the Secretary has approved the plan.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part II - Maryland Economic Development Assistance Authority › Section 5-306 - Membership

(a)    The Authority consists of the individuals serving as members of the Maryland Industrial Development Financing Authority under § 5-406 of this title.
(b)    The members of the Authority shall be appointed in accordance with § 5-407 of this title.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part II - Maryland Economic Development Assistance Authority › Section 5-307 - Actions

(a)    The members of the Authority may act concurrently in their capacities as members of the Authority and of the Maryland Industrial Development Financing Authority.
(b)    The members of the Authority shall carry out the powers and duties of the Authority under this subtitle whether acting:
(1)    concurrently as members of the Authority and the Maryland Industrial Development Financing Authority; or
(2)    as members of either authority alone.
(c)    The members of the Authority shall conduct the business of the Authority and of the Maryland Industrial Development Financing Authority under Subtitle 4 of this title.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part III - Maryland Economic Development Assistance Fund › Section 5-311 - Purposes

The purposes of the Fund are to:
(1)    expand employment opportunities in the State by providing financial assistance to businesses that are engaged in eligible industry sectors, including financial assistance for:
(i)    aquaculture projects;
(ii)    arts and entertainment enterprises;
(iii)    arts and entertainment projects; and
(iv)    creation and expansion of child care facilities;
(2)    provide financial assistance for the redevelopment of qualified brownfields sites;
(3)    provide financial assistance to local governments and the Corporation for economic development projects; and
(4)    provide grants to local economic development funds.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part III - Maryland Economic Development Assistance Fund › Section 5-312 - Administration

(a)    The Secretary shall administer the Fund.
(b)    (1)    The Fund is a special, nonlapsing fund that is not subject to reversion under § 7–302 of the State Finance and Procurement Article.
(2)    The Treasurer shall hold the Fund separately and the Comptroller shall account for the Fund.
(c)    Any investment earnings of the Fund shall be credited to the Fund.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part III - Maryland Economic Development Assistance Fund › Section 5-313 - Composition

The Fund consists of:
(1)    money appropriated in the State budget to the Fund;
(2)    money made available to the Fund through federal programs or private contributions;
(3)    repayments of principal and interest from loans made from the Fund;
(4)    proceeds from the sale, disposition, lease, or rental of collateral related to financial assistance provided by the Department under this subtitle;
(5)    application or other fees paid to the Fund to process requests for financial assistance;
(6)    recovery of an investment made by the Department in a business, including an arrangement under which part of the investment is recovered through:
(i)    a requirement that the Department receive a proportion of cash flow, commissions, royalties, or license fees;
(ii)    the repurchase from the Department of any of its investment interest; or
(iii)    the sale of an appreciated asset;
(7)    repayments received from recipients of conditional grants from the Department;
(8)    money collected under § 9–229 of the Tax – Property Article;
(9)    repayments on or recoveries from financial assistance provided from the former:
(i)    Brownfields Revitalization Incentive Fund;
(ii)    Child Care Facilities Direct Loan Fund;
(iii)    Child Care Special Loan Fund;
(iv)    Maryland Industrial and Commercial Redevelopment Fund;
(v)    Maryland Industrial Land Fund;
(vi)    Maryland Seafood and Aquaculture Loan Fund; and
(vii)    Smart Growth Economic Development Infrastructure Fund; and
(10)    any other money made available to the Fund.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part III - Maryland Economic Development Assistance Fund › Section 5-314 - Use of Fund

(a)    The Department may use money in the Fund to:
(1)    provide financial assistance to eligible applicants; and
(2)    pay expenses for administrative, actuarial, legal, and technical services for the Fund.
(b)    The Department periodically shall review its portfolio in an effort to ensure:
(1)    the equitable distribution among the counties of money from the Fund;
(2)    adequate funding for Tier I county projects; and
(3)    that no particular Tier I county benefits disproportionately from financial assistance to Tier I counties under this subtitle.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part III - Maryland Economic Development Assistance Fund › Section 5-315 - Reporting Requirements

In accordance with § 2.5–109 of this article, the Department shall report on the number, amount, use, and economic benefits of financial assistance provided under this subtitle.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part III - Maryland Economic Development Assistance Fund › Section 5-316 - Continued Authorization for Incorporated Funds

Financial assistance is deemed authorized under this subtitle if it was provided, or approved to be provided, from the following programs that have been incorporated into the Fund:
(1)    the Brownfields Revitalization Incentive Fund;
(2)    the Child Care Facilities Direct Loan Fund;
(3)    the Child Care Special Loan Fund;
(4)    the Maryland Industrial and Commercial Redevelopment Fund;
(5)    the Maryland Industrial Land Act;
(6)    the Maryland Seafood and Aquaculture Loan Fund; and
(7)    the Smart Growth Economic Development Infrastructure Fund.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part IV - Financial Assistance From Fund › Section 5-320 - Eligibility of Applicants; Applications for Financial Assistance

(a)    To be eligible for financial assistance from the Fund, an applicant shall be:
(1)    a local economic development fund that meets the criteria set forth in Part V of this subtitle; or
(2)    an individual, private business, nonprofit entity, or local government, or the Corporation that intends to use the requested financial assistance for a project that:
(i)    except as provided in subsection (b) of this section, is in an eligible industry sector under § 5–321 of this subtitle; and
(ii)    has a strong potential for expanding or retaining employment opportunities in the State.
(b)    A project need not be in an eligible industry sector if the applicant:
(1)    is located in a Tier I county; or
(2)    (i)    is a local government or the Corporation; and
(ii)    does not intend to use the financial assistance to carry out a project that benefits a particular private sector entity.
(c)    In form and content acceptable to the Department, an applicant for financial assistance from the Fund shall submit to the Department an application that contains:
(1)    the information that the Department or Authority considers necessary to evaluate the request for financial assistance; and
(2)    for a Tier I county project:
(i)    a marketing plan designed to market the project to prospective businesses;
(ii)    a statement of planned marketing expenditures as a percent of the total financial assistance amount requested; and
(iii)    a plan for the project that is consistent with the county’s local strategic economic development plan as to the location and type of project.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part IV - Financial Assistance From Fund › Section 5-321 - Eligible Industry Sectors

(a)    (1)    After consulting with the Department and the Maryland Department of Labor, each year the Maryland Economic Development Commission shall:
(i)    evaluate the potential employment and economic growth of Maryland’s industry sectors; and
(ii)    recommend eligible industry sectors to the Authority.
(2)    Each year the Authority shall:
(i)    consider the recommendation of the Maryland Economic Development Commission; and
(ii)    establish a list of industry sectors that will be eligible for financial assistance from the Fund.
(3)    In determining whether an applicant is engaged in an eligible industry sector, the Department shall consider the definitions set forth in the North American Industry Classification System.
(b)    (1)    For the purpose of providing financial assistance under this subtitle, the following are deemed to be in eligible industry sectors:
(i)    aquaculture projects;
(ii)    arts and entertainment enterprises;
(iii)    arts and entertainment projects;
(iv)    redevelopment of qualified brownfields sites;
(v)    creation or expansion of child care facilities;
(vi)    projects in areas that are declared to be federal disaster areas within 1 year before the Department receives an application for financial assistance under this subtitle; and
(vii)    feasibility studies.
(2)    The requirements specifically imposed on significant strategic economic development opportunities and local economic development opportunities under this subtitle do not apply to the items listed in paragraph (1) of this subsection.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part IV - Financial Assistance From Fund › Section 5-322 - Authorized Uses

(a)    Financial assistance from the Fund may be used only to finance costs incurred for:
(1)    construction or acquisition of a building or real property, and associated development and carrying costs;
(2)    construction, acquisition, or installation of equipment, furnishings, fixtures, leasehold improvements, site improvements, or infrastructure improvements, including rail line enhancements on or to the site of an economic development project, and associated development and carrying costs;
(3)    working capital for significant strategic economic development opportunities, arts and entertainment enterprises, or arts and entertainment projects;
(4)    redevelopment of qualified brownfields sites;
(5)    subject to § 5-325(b)(3) of this subtitle, construction, purchase, or renovation of real property, fixtures, or equipment related to a child care facility;
(6)    if supported by a resolution adopted by the governing body of the jurisdiction in which a project may be located, feasibility studies;
(7)    subject to § 5-325(b)(4) of this subtitle, preparation of a county’s or municipal corporation’s strategy or plan for economic development; and
(8)    a project intended to assist businesses in areas that are declared to be federal disaster areas, but only if the Department receives an application for financial assistance within 1 year after the declaration of the federal disaster area.
(b)    Financial assistance from the Fund may not be used to refinance existing debt.
2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 3 - Maryland Economic Development Assistance Authority and Fund › Part IV - Financial Assistance From Fund › Section 5-323 - Limitation on Financial Assistance

Financial assistance from the Fund may not exceed the lesser of:
(1)    $10,000,000; or
(2)    20% of the Fund balance.