reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › 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 meanings indicated.
(2)    “Corporation” has the meaning stated in § 10–401 of this title.
(3)    “Phase 0” means the initial application process for the federal Small Business Innovation Research grant program or the federal Small Business Technology Transfer grant program.
(4)    “Phase I” means a small business has received up to $150,000 in federal Small Business Innovation Research funding for approximately 6 months or federal Small Business Technology Transfer funding for 1 year, with the meaning stated in 15 U.S.C. § 638.
(5)    “Phase II” means a small business has received up to $1,000,000 in funding for up to 2 years to expand Phase I results, with the meaning stated in 15 U.S.C. § 638.
(6)    “Program” means the Maryland Small Business Innovation Research Technical Assistance Program.
(b)    There is a Maryland Small Business Innovation Research Technical Assistance Program in the Corporation.
(c)    The purpose of the Program is to provide technical assistance to small businesses in the State by:
(1)    encouraging small businesses, including economically disadvantaged small businesses, to apply for grants under the federal Small Business Innovation Research grant program and the federal Small Business Technology Transfer grant program; and
(2)    providing grant applicants with technical assistance, including training assistance and assessments through Phases 0, I, and II of development.
(d)    To qualify for participation, a small business shall:
(1)    have its principal business operations located in the State, have over half of its workforce working in the State, and intend to maintain its principal business operations in the State; and
(2)    have not more than 50 employees.
(e)    The Corporation may adopt regulations establishing additional criteria for eligibility and allocation of assistance.
(f)    In accordance with the requirements of Division II of the State Finance and Procurement Article, the Corporation may procure a nonprofit organization located in the State to provide services under the Program.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 4C - Maryland Makerspace Initiative Program. [Subtitle Subject to Abrogation] › Section 10-4C-01 - Definitions [Subtitle Subject to Abrogation]

// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //
(a)    In this subtitle the following words have the meanings indicated.
(b)    “Board” has the meaning stated in § 10–401 of this title.
(c)    “Corporation” has the meaning stated in § 10–401 of this title.
(d)    “Financial assistance” means a grant, a loan, or similar assistance.
(e)    “Fund” means the Maryland Makerspace Initiative Fund.
(f)    “Makerspace” means a community space that:
(1)    provides access to tools, technology, and knowledge for learners and entrepreneurs;
(2)    results in the prototyping or creation of physical goods; and
(3)    supports the development of educational opportunities for personal growth, workforce training, and early–stage business ventures.
(g)    “Program” means the Maryland Makerspace Initiative Program.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 4C - Maryland Makerspace Initiative Program. [Subtitle Subject to Abrogation] › Section 10-4C-02 - Maryland Makerspace Initiative Program -- Purpose [Subtitle Subject to Abrogation]

// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //
(a)    There is a Maryland Makerspace Initiative Program in the Corporation.
(b)    The purpose of the Program is to encourage the establishment and expansion of makerspaces throughout the State.
(c)    (1)    The Corporation shall administer the Program.
(2)    The Corporation may partner with the Open Works Center for Advanced Fabrication Technologies in Baltimore City to provide technical assistance to nonprofit entities seeking to establish makerspaces in the State.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 4C - Maryland Makerspace Initiative Program. [Subtitle Subject to Abrogation] › Section 10-4C-03 - Financial Assistance Awarded for Operating Costs of Makerspaces. [Subtitle Subject to Abrogation]

// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //
(a)    To carry out the purposes of the Program, the Corporation shall award financial assistance under this subtitle to eligible applicants for the establishment, expansion, or operating costs of makerspaces in the State.
(b)    The Corporation shall award financial assistance from the funds available under the Maryland Makerspace Initiative Fund established under § 10–4C–05 of this subtitle.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 4C - Maryland Makerspace Initiative Program. [Subtitle Subject to Abrogation] › Section 10-4C-04 - Standards for Awards -- Awarding of Financial Assistance Reflecting Geographic Diversity -- Recipients -- Annual Cap on Yearly Award. [Subtitle Subject to Abrogation]

// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //
(a)    The Corporation shall adopt standards to award financial assistance under this subtitle.
(b)    The Corporation may award financial assistance to:
(1)    a local government;
(2)    an agency, an instrumentality, or a nonprofit corporation that the local government designates; or
(3)    a nonprofit entity operating or seeking to operate a makerspace in the State.
(c)    To the extent practicable, the Corporation shall award financial assistance in a manner that reflects geographic diversity.
(d)    A recipient of financial assistance under this section:
(1)    shall provide matching funds or in–kind contributions for the project at least equal to the amount of financial assistance awarded; and
(2)    may not utilize the financial assistance awarded for the operating costs of the makerspace after the first 3 years of operation.
(e)    Unless two–thirds of the membership of the Board approves, the Corporation may not award financial assistance within a single county under this section that exceeds a total of $250,000 in a single fiscal year.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 4C - Maryland Makerspace Initiative Program. [Subtitle Subject to Abrogation] › Section 10-4C-05 - Maryland Makerspace Initiative Fund -- Funding -- Administrator -- Uses -- Annual Appropriation. [Subtitle Subject to Abrogation]

// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //
(a)    There is a Maryland Makerspace Initiative Fund in the Corporation.
(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 State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
(c)    The Fund consists of:
(1)    appropriations as provided in the State budget;
(2)    repayments of loans made through the Program;
(3)    any interest earnings of the Fund; and
(4)    any other money from any other source accepted for the benefit of the Fund.
(d)    The Executive Director of the Corporation, or the Executive Director’s designee, shall administer the Fund in accordance with this part and any other applicable law.
(e)    The Fund shall be used to cover the following costs of the Program:
(1)    administrative costs not exceeding $100,000 in each fiscal year;
(2)    reimbursement for technical assistance and mentoring provided by existing makerspaces; and
(3)    any financial assistance that is awarded to eligible recipients in accordance with § 10–4C–04 of this subtitle.
(f)    For each of fiscal years 2024 through 2028, the Governor shall include in the annual budget bill an appropriation of at least $1,000,000 to the Fund.
(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)    The Office of Legislative Audits shall audit the accounts and transactions of the Fund as provided in § 2–1220 of the State Government Article.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 4C - Maryland Makerspace Initiative Program. [Subtitle Subject to Abrogation] › Section 10-4C-06 - Report on Effectiveness of Program. [Subtitle Subject to Abrogation]

// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //
On or before October 1, 2027, the Corporation shall report to the Governor and, in accordance with § 2–1257 of the State Government Article, the General Assembly on the effectiveness of the Program in encouraging the establishment and expansion of makerspaces throughout the State and recommendations concerning the improvement, extension, or termination of the Program.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-504 - Established

(a)    There is a Maryland Agricultural and Resource-Based Industry Development Corporation.
(b)    The Corporation is a body politic and corporate and is an instrumentality of the State.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-508 - Applicability of Other Laws

(a)    The Corporation is exempt from:
(1)    Title 10 and Division II of the State Finance and Procurement Article;
(2)    laws governing the State Personnel Management System under Division I of the State Personnel and Pensions Article; and
(3)    §§ 19–205 and 19–206 of the Local Government Article (Conditions upon Sale of Public Securities).
(b)    (1)    The Corporation is subject to:
(i)    the Public Information Act; and
(ii)    subject to paragraph (2) of this subsection, the Open Meetings Act.
(2)    For purposes of the Open Meetings Act, a project site visit or educational field tour may not be considered a meeting of the Corporation if no organizational business is conducted.
(c)    The Board and employees of the Corporation are subject to the Public Ethics Law.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-509 - Powers -- in General

The Corporation may:
(1)    adopt bylaws for the conduct of its business;
(2)    adopt a seal;
(3)    maintain an office at a place it designates in the State;
(4)    accept loans, grants, or financial and technical assistance in any form from the federal or State government, local governments, colleges or universities, or a private source;
(5)    enter into contracts and other legal instruments;
(6)    sue or be sued;
(7)    acquire, purchase, hold, lease as a lessee, and use any franchise, patent, or license and real, personal, mixed, or tangible or intangible property, or any interest in property;
(8)    own, improve, sell, lease as a lessor, transfer, license, assign, encumber, and dispose of any property or interest in property, necessary or convenient to carry out its purposes at public sale, with or without public bidding;
(9)    fix and collect rates, rentals, fees, royalties, and charges for the use of or for services and resources it provides or makes available;
(10)    retain any necessary accountants, engineers, financial advisors, and other consultants;
(11)    with the approval of the Attorney General, retain any necessary lawyers;
(12)    further define or limit the term “revenue” defined in § 10-501 of this subtitle as the term applies to a particular project, financing, or other matter;
(13)    create, own, control, or be a member of a corporation, limited liability company, partnership, or other person, whether operated for profit or not for profit;
(14)    exercise a power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and
(15)    do anything necessary or convenient to carry out the powers granted by this subtitle.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-511 - Powers -- Projects

The Corporation may:
(1)    acquire, improve, develop, manage, market, manufacture, license, maintain, lease as lessor or as lessee, and operate a project in the State to carry out the purposes of the Corporation;
(2)    acquire, directly or indirectly, by purchase, gift, or devise, property, rights, rights-of-way, franchises, easements, and other interests in land, including land lying under water and riparian rights, located in or outside the State as necessary or convenient to improve or operate a project, on terms and at prices the Corporation considers reasonable; and
(3)    enter into a project with a manufacturer to carry out the purposes of this subtitle.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-512 - Powers -- Borrowing and Lending Authority

The Corporation may:
(1)    (i)    borrow money and issue bonds;
(ii)    purchase, discount, sell, negotiate and guarantee, insure, co–insure, and reinsure negotiable instruments, bills of exchange, acceptances, bankers’ acceptances, cable transfers, letters of credit, and other evidences of indebtedness; and
(iii)    provide for the rights of lenders and bondholders;
(2)    procure insurance or reinsurance against:
(i)    loss in connection with its property or operations, including insurance, reinsurance, or other guarantees from any federal or State unit or private insurance company for the payment of bonds issued by the Corporation, or bonds, notes, or any other obligations issued or made by any lender or other person; or
(ii)    loss with respect to agricultural loans, mortgages or mortgage loans, or any other type of loans, including the power to pay premiums on the insurance or reinsurance;
(3)    (i)    insure, co–insure, or reinsure agricultural loans, mortgage loans or mortgages, or any other type of loans;
(ii)    pay or receive premiums on the insurance, co–insurance, or reinsurance;
(iii)    establish reserves for losses; and
(iv)    participate in the insurance, co–insurance, or reinsurance of agricultural loans, mortgage loans or mortgages, or any other type of loans with the federal or State government or any private insurance company;
(4)    make loans to or deposits with lenders;
(5)    purchase or sell agricultural loans;
(6)    fix and collect fees and charges in connection with its loans, deposits, insurance commitments, and services, including reimbursement of costs of issuing bonds, origination and servicing fees, and insurance premiums; and
(7)    subject to the rights of its bondholders:
(i)    renegotiate, refinance, or foreclose on a mortgage, security interest, or lien;
(ii)    commence an action to protect or enforce any right or benefit conferred on the Corporation by any law or agreement;
(iii)    consent to modification of an interest rate, time, payment, security, or other term or condition of an agreement to which the Corporation is a party or beneficiary;
(iv)    bid for and purchase property at any foreclosure or at any other sale, or otherwise acquire or take possession of any property; and
(v)    in connection with an acquisition under item (iv) of this item, complete, administer, pay the principal of and interest on any obligation incurred in connection with the property, dispose of, and otherwise deal with the property in any manner necessary or desirable to protect the interest of the Corporation or its bondholders in the property.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-513 - Bonds -- in General

(a)    The Corporation may authorize the issuance of revenue bonds by resolution.
(b)    The Corporation may issue the bonds:
(1)    to finance all or part of the costs of a project; and
(2)    for any other lawful purpose of the Corporation authorized in this subtitle.
(c)    The Corporation may issue the bonds at one time or from time to time.
(d)    The Corporation shall determine:
(1)    the date of the bonds;
(2)    the interest rates of the bonds;
(3)    the maturity date of the bonds, which may not exceed 40 years from the date of issue;
(4)    the prices, terms, and conditions of sale of the bonds;
(5)    the form of the bonds;
(6)    the manner of executing the bonds;
(7)    the denominations of the bonds; and
(8)    the places of payment of principal of and interest on the bonds, at a bank or trust company in or outside the State.
(e)    An officer’s signature or facsimile signature on a bond remains valid even if the officer leaves office before the bond is delivered.
(f)    (1)    The bonds are negotiable instruments under the laws of the State.
(2)    Bonds may be registrable.
(g)    (1)    The Corporation may sell the bonds by competitive or negotiated sale in a manner and for a price that the Corporation determines.
(2)    The bonds are exempt from §§ 8-206 and 8-208 of the State Finance and Procurement Article.
(h)    Bond proceeds may be placed in escrow pending application of the proceeds to the purposes for which the bonds are issued.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-514 - Bonds -- Liability; Full Faith and Credit

(a)    (1)    This section does not prevent the Corporation from pledging its full faith and credit to the payment of a bond.
(2)    This section does not limit the ability of the State or a political subdivision to impose an assessment, rate, fee, or charge to pay to the Corporation any cost, including the principal of and interest on a bond, under an agreement between the Corporation and the State or political subdivision.
(b)    (1)    A bond:
(i)    is not a debt, liability, or a pledge of the full faith and credit of the State or of any political subdivision; and
(ii)    is payable solely from revenues provided under this subtitle.
(2)    The issuance of a bond is not directly, indirectly, or contingently a moral or other obligation of the State or a political subdivision to levy or pledge any tax or to make an appropriation to pay the bond.
(3)    Each bond shall state on its face that:
(i)    neither the State nor a political subdivision, other than the Corporation, is obliged to pay the principal of or interest on the bond, except from revenues pledged to payment of the bond; and
(ii)    neither the full faith and credit nor the taxing power of the State or a political subdivision is pledged to the payment of the principal of or interest on the bond.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-515 - Bonds -- Trust Agreement

(a)    (1)    The Corporation may secure a bond by a trust agreement between the Corporation and a corporate trustee.
(2)    A corporate trustee may be any trust company or bank that has the powers of a trust company in or outside the State.
(3)    A corporation or trust company incorporated in the State may:
(i)    act as depository of bond proceeds or revenue; and
(ii)    furnish any indemnity bond or pledge security that the Corporation requires.
(b)    The trust agreement or the resolution that provides for the issuance of a bond may:
(1)    state the rights and remedies of bondholders and any trustee;
(2)    contain provisions to protect and enforce the rights and remedies of bondholders;
(3)    contain covenants stating the duties of the Corporation as to the custody, safeguarding, and application of money;
(4)    restrict the individual right of action of bondholders;
(5)    provide for the payment of the bond proceeds and revenues to an officer, board, or depository that the Corporation determines with the safeguards and restrictions that the Corporation determines; and
(6)    provide for the method of disbursement of the bond proceeds and revenues, with the safeguards and restrictions that the Corporation determines.
(c)    Expenses incurred in carrying out a trust agreement may be treated as a part of the cost of operation of the Corporation.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-516 - Bonds -- Investment of Proceeds

(a)    The portion of the proceeds of bonds issued to pay costs of a project may be invested in investments or other obligations that mature no later than the times when the proceeds will be needed.
(b)    (1)    Except as provided in paragraph (2) of this subsection, the Corporation shall determine the investment of bond proceeds.
(2)    If the Corporation loans the proceeds of the bonds to a person as provided in § 10-519 of this subtitle, the loan recipient shall determine the investment of bond proceeds.
(c)    The Corporation or the loan recipient may apply earnings and profits on investments or other obligations:
(1)    to the payment of any cost; or
(2)    in any other lawful manner.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-517 - Bonds -- Refunding Bonds

(a)    (1)    The Corporation may issue bonds to refund any outstanding bonds, including paying:
(i)    any redemption premium;
(ii)    interest accrued or to accrue to the date of redemption, purchase, or maturity of the bonds; and
(iii)    if considered advisable by the Corporation, any part of the cost of a project.
(2)    Refunding bonds may be issued for any corporate purpose, including:
(i)    realizing savings in the effective costs of debt service, directly or through a debt restructuring;
(ii)    alleviating an impending or actual default; or
(iii)    relieving the Corporation of a contractual agreement that the Corporation finds to be unreasonably onerous, impracticable, or impossible to perform.
(b)    (1)    The Corporation may issue refunding bonds in one or more series in an amount greater than the amount of the bonds to be refunded.
(2)    (i)    Refunding bonds may be made payable from:
1.    escrowed bond proceeds;
2.    earnings and profits, if any, on investments; or
3.    any other source.
(ii)    These sources:
1.    may be applied to other uses; and
2.    constitute revenues of a project under this subtitle.
(c)    In the discretion of the Corporation, the proceeds of refunding bonds may be:
(1)    applied to the purchase, retirement at maturity, or redemption of outstanding bonds on a date the Corporation determines; and
(2)    pending application under item (1) of this subsection, placed in escrow.
(d)    (1)    The Corporation may invest escrowed refunding bond proceeds in investments and other obligations, maturing on appropriate dates to assure the prompt payment of the principal of, interest on, and any redemption premium on the bonds to be refunded.
(2)    (i)    Except as provided in subparagraph (ii) of this paragraph, the Corporation shall determine the investment of the proceeds of refunding bonds.
(ii)    If the Corporation loans the proceeds of refunding bonds to a person as provided in § 10-519 of this subtitle, the loan recipient shall determine the investment of the proceeds of refunding bonds.
(3)    The earnings and any profits on investments or other obligations may be applied to the payment of the outstanding bonds to be refunded.
(4)    After the terms of the escrow have been fully satisfied, the balance of the proceeds and earnings and profits on investments or other obligations may be returned to the Corporation or the loan recipient for use in any lawful manner.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-518 - Pledge

(a)    The Corporation may pledge or assign:
(1)    any of its revenues;
(2)    any of its rights to receive revenues;
(3)    money and securities in accounts established to secure a bond; and
(4)    a lien or security interest granted or assignment made to the Corporation.
(b)    A pledge or assignment:
(1)    is valid and binding against any person having a claim against the Corporation, in contract, tort, or otherwise, regardless of whether the person has notice of the pledge or assignment; and
(2)    has priority over the claim.
(c)    A resolution, trust agreement, assignment, financing agreement, or other instrument that creates a lien, security interest, assignment, or pledge under subsection (a) of this section:
(1)    shall be filed in the records of the Corporation; but
(2)    need not be filed or recorded elsewhere.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-519 - Project Financing

(a)    The Corporation may:
(1)    lend or otherwise make available the proceeds of its bonds to a person to finance costs of a project; and
(2)    enter into a financing agreement, mortgage, or other instrument that it determines is necessary or desirable to evidence or secure the loan.
(b)    (1)    A lease for a project may require or authorize the lessee or another person to purchase or otherwise acquire the project for consideration, that the Corporation establishes, on:
(i)    payment of the principal of and interest on the bonds that financed the cost of the project; or
(ii)    other provision for payment satisfactory to the Corporation.
(2)    Consideration required under paragraph (1) of this subsection may be nominal.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-520 - Agricultural Loans

(a)    (1)    The Corporation may purchase and sell agricultural loans made by lenders, at the prices and on the terms and conditions that it determines.
(2)    A lender may purchase and sell agricultural loans to the Corporation in accordance with this section.
(b)    (1)    The Corporation may make loans to and deposits with lenders at interest rates, terms, and conditions that it determines.
(2)    A lender may borrow funds and accept deposits from the Corporation in accordance with this subtitle and the bylaws of the Corporation.
(3)    The Corporation shall require that all proceeds of its loans to or deposits with lenders, or an equivalent amount, shall be used by the lenders to make agricultural loans, subject to terms and conditions that the Corporation determines.
(c)    (1)    The Corporation may insure and reinsure agricultural loans made by lenders, subject to the terms, security provisions, and reserve requirements determined by the Corporation in accordance with the bylaws of the Corporation.
(2)    Unless otherwise determined by the Corporation, agricultural loans shall be insured to the amount of 100% of the unpaid principal of and interest on each agricultural loan.
(d)    An insured agricultural loan is in default when the holder of the agricultural loan requests the Corporation to pay insurance on the loan in accordance with any agreement with respect to the insurance executed in accordance with this section.
(e)    The Corporation may enter into agreements with any person, lender, or holder of an insured agricultural loan to:
(1)    provide for the administration, application, and repayment of the agricultural loan; and
(2)    establish the conditions for payment of insurance by the Corporation, and the servicing, suit on, or foreclosure of the agricultural loan.
(f)    (1)    The aggregate value of all agricultural loans insured by the Corporation and outstanding at any one time may not exceed 20 times the total value of money, investments, properties, and other assets of the Corporation.
(2)    Notwithstanding paragraph (1) of this subsection, the aggregate value of agricultural loans insured and outstanding may be further expanded by use of federal, State, or private loan insurance, reinsurance, or guarantees of which the Corporation is or shall become the beneficiary.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-521 - Agricultural Studies

The Corporation may:
(1)    study agricultural conditions and needs in the State, needs relating to the promotion of agricultural industries, and ways of meeting those needs;
(2)    make the studies available to the public and to agricultural industries; and
(3)    engage in research or disseminate information on agriculture and agricultural marketing and promotion.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-522 - Cooperation With Other Units

(a)    (1)    Each unit in the Executive Branch of State government and each institution of higher education in the State may work with the Corporation on matters relating to the unit.
(2)    Each political subdivision and regional planning and development council in the State may work with the Corporation on matters relating to the political subdivision or entity.
(b)    The following units may provide technical and other support to the Corporation:
(1)    the Department;
(2)    the Department of Agriculture;
(3)    the Department of Natural Resources;
(4)    the Maryland Economic Development Corporation;
(5)    the Maryland Food Center Authority;
(6)    the Maryland Technology Development Corporation;
(7)    the Rural Maryland Council; and
(8)    the Maryland Cooperative Extension Service.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-523 - Funding

(a)    (1)    The Corporation may receive annual funding through an appropriation in the State budget.
(2)    The Corporation may also receive money for projects included in the budgets of State units.
(3)    (i)    To assist the Corporation in complying with subsection (c) of this section, the Governor shall include each year in the State budget bill an appropriation to the Corporation for rural business development and assistance as follows:
1.    for fiscal year 2021, $2,875,000; and
2.    for each of the fiscal years 2022 through 2025, $2,735,000.
(ii)    1.    Except as provided in subsubparagraph 2 of this subparagraph, in addition to any money provided under subparagraph (i) of this paragraph, the Governor may include each year in the State budget bill an appropriation to the Corporation in an amount not exceeding $5,000,000 for rural land acquisition and easement programs, including programs to assist young and beginning farmers.
2.    For fiscal year 2024, the Governor shall include in the annual budget bill a General Fund appropriation in the amount of $10,000,000 to the Corporation for the Next Generation Farmland Acquisition Program.
(b)    (1)    The funds appropriated to the Corporation under subsection (a)(3)(i)2 of this section shall be used to support the Corporation’s rural business loan programs and small matching grant programs.
(2)    All unexpended and unencumbered money appropriated to the Corporation shall remain with the Corporation for future use.
(c)    The Corporation shall conduct its financial affairs so that, by fiscal year 2026, it is self–sufficient and in no further need of general operating support by the State.
(d)    The Corporation may use up to 3% of the money received under § 13–306(a)(3)(ii)2 of the Tax – Property Article for administrative costs associated with the Next Generation Farmland Acquisition Program.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-524 - Liability of Corporation

(a)    A debt, claim, obligation, or liability of the Corporation, whenever incurred, is the debt, claim, obligation, or liability of the Corporation only and not of the State, a unit or instrumentality of the State, or a State officer or employee.
(b)    A debt, claim, obligation, or liability of the Corporation may not be considered a debt of the State or a pledge of its credit.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-526 - Maryland Waterman's Microloan Program -- Purpose -- Eligibility -- Annual Appropriations

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Beginner waterman” means an individual who has:
(i)    a tidal fish license under § 4–701 of the Natural Resources Article; and
(ii)    at least 2 years and not more than 10 years of experience in commercial seafood harvesting.
(3)    “Generational waterman” means an individual who:
(i)    has a tidal fish license under § 4–701 of the Natural Resources Article; and
(ii)    can demonstrate, through the submission of the two most recent federal income tax returns and other supporting documents, that at least 50% of the individual’s annual income is derived from commercial seafood harvesting.
(4)    “Program” means the Maryland Watermen’s Microloan Program.
(5)    “Qualified commercial fisherman” includes:
(i)    a beginner waterman; and
(ii)    a generational waterman.
(b)    There is a Maryland Watermen’s Microloan Program in the Corporation.
(c)    The purpose of the Program is to provide loans to qualified commercial fishermen to continue commercial operations in the State, including for purchasing:
(1)    boats;
(2)    mechanical equipment;
(3)    fishing gear;
(4)    fishing quota; and
(5)    any other item used in commercial seafood harvesting.
(d)    The Corporation shall implement and administer the Program in accordance with this section.
(e)    (1)    Through June 30, 2025, only generational watermen are eligible to receive a loan under the Program.
(2)    Starting July 1, 2025, the following persons are eligible to receive a loan under the Program:
(i)    generational watermen;
(ii)    beginner watermen; and
(iii)    seafood processing businesses.
(f)    (1)    For loans made under the Program, the Corporation shall determine:
(i)    the eligibility of an applicant;
(ii)    the amount of loan to be given to a borrower;
(iii)    the terms and conditions of a loan contract; and
(iv)    the amount of debt forgiveness that may be provided to a borrower for loan repayment performance.
(2)    A loan made under the Program shall be at least $7,000 and not more than $15,000.
(3)    A borrower under the Program may not have more than one outstanding loan from the Program during any period of time.
(g)    (1)    For each of fiscal years 2024 through 2026, the Governor shall include in the annual State budget bill an appropriation of $500,000 to the Program.
(2)    The appropriation in paragraph (1) of this subsection shall be distributed to a special fund, to be used only to:
(i)    make loans under the Program; and
(ii)    pay the costs necessary to administer and operate the Program.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-527 - Audit

The books and records of the Corporation are subject to audit:
(1)    by the State at its discretion; and
(2)    each year by an independent auditor.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 5 - Maryland Agricultural and Resource-Based Industry Development Corporation › Section 10-528 - Annual Report

(a)    On or before October 1 of each year, the Corporation shall report on its status to the Governor, the Maryland Agricultural Commission, the Maryland Economic Development Commission, and, in accordance with § 2–1257 of the State Government Article, the General Assembly.
(b)    The report shall include a complete operating and financial statement and a summary of the Corporation’s activities during the preceding fiscal year.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-604 - Established

(a)    There is a Maryland Stadium Authority.
(b)    (1)    The Authority is a body politic and corporate and is an instrumentality of the State.
(2)    The Authority is an independent unit in the Executive Branch of State government.
(3)    The exercise by the Authority of its powers under this subtitle is an essential governmental function.
(c)    The Authority is a public body under Title 5, Subtitle 4 of this article, the Maryland Industrial Development Financing Authority Act, for purposes of applying for, receiving, and making agreements in connection with:
(1)    a loan;
(2)    a grant;
(3)    insurance; or
(4)    any other form of financial assistance.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-605 - Membership

(a)    (1)    The Authority consists of the following nine members:
(i)    six members appointed by the Governor, with the advice and consent of the Senate;
(ii)    one member appointed by the President of the Senate;
(iii)    one member appointed by the Speaker of the House of Delegates; and
(iv)    one member appointed by the Mayor of Baltimore City, with the advice and consent of the Senate.
(2)    In making appointments, the Governor shall ensure that the geographic areas of the State are represented.
(b)    (1)    The term of a member is 4 years.
(2)    The terms of members are staggered as required by the terms provided for members on October 1, 2008.
(3)    At the end of a term, a member continues to serve until a successor is appointed and qualifies.
(4)    A member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies.
(c)    A member may be removed for incompetence, misconduct, or failure to perform the duties of the position by:
(1)    the Governor, if appointed by the Governor;
(2)    the President of the Senate, if appointed by the President;
(3)    the Speaker of the House of Delegates, if appointed by the Speaker; or
(4)    the Mayor of Baltimore City, if appointed by the Mayor.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-607 - Meetings; Quorum; Compensation

(a)    (1)    The Authority shall determine the times and places of its meetings.
(2)    For purposes of the Open Meetings Act, a project site visit or educational field tour may not be considered a meeting of the Authority if no organizational business is conducted.
(b)    (1)    Five members of the Authority are a quorum.
(2)    Action by the Authority requires the affirmative vote of at least five members.
(c)    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.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-608 - Applicability of Other Law

The Authority is exempt:
(1)    from taxation by the State and local government;
(2)    except as provided in Title 12, Subtitle 4 and Title 14, Subtitle 3 of the State Finance and Procurement Article, from Division II of the State Finance and Procurement Article;
(3)    from § 15–112 of the State Finance and Procurement Article; and
(4)    from the provisions of Division I of the State Personnel and Pensions Article that govern the State Personnel Management System.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-609 - Executive Director

(a)    With the approval of the Governor, the Authority shall appoint an Executive Director.
(b)    Subject to the concurrence of the Governor, the Executive Director serves at the pleasure of the Authority.
(c)    The Executive Director is the chief administrative officer and secretary of the Authority and shall:
(1)    direct and supervise the administrative affairs and activities of the Authority, in accordance with its regulations and policies;
(2)    attend the meetings of the Authority;
(3)    keep minutes of all proceedings of the Authority;
(4)    approve all accounts for salaries, per diem payments, and all allowable expenses of the Authority, its employees, and its consultants;
(5)    approve all expenses incidental to the operation of the Authority;
(6)    report and make recommendations to the Authority on the merits and status of any proposed facility; and
(7)    perform the other duties that the Authority requires to carry out this subtitle.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-610 - Staff; Independent Contractors

The Authority may employ or retain, either as employees or as independent contractors, consultants, engineers, architects, accountants, attorneys, financial experts, construction experts and personnel, superintendents, managers and other professional personnel, personnel, and agents as the Authority considers necessary, and set their compensation.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-611 - Maryland Sports Office

(a)    There is an office known as Maryland Sports in the Authority.
(b)    Maryland Sports shall implement a program to bring regional, national, and international sporting events at all levels of competition to the State for the purposes of:
(1)    utilizing sports facilities in the State;
(2)    enhancing the economic development of the State; and
(3)    promoting the State as a destination for amateur and professional sporting events.
(c)    Maryland Sports shall act as the State’s sports commission for the purpose of the National Association of Sports Commissions.
(d)    To carry out the purposes of this section, Maryland Sports may:
(1)    notwithstanding any other provision of law, request any State or local government body to provide information and assistance;
(2)    notwithstanding any other provision of law, accept a gift, bequest, or grant from a public or private source;
(3)    spend funds made available in the State budget;
(4)    act as the host committee for regional, national, and international sporting events to be held in whole or in part in the State; and
(5)    perform any other act necessary.
(e)    Maryland Sports is encouraged to promote private fund–raising by maintaining relationships with each affiliated foundation established under § 10–612 of this subtitle.