2023 Maryland Statutes › Economic Development › Division I - Secretary of Commerce and Department of Commerce › Title 5 - Economic Development and Financial Assistance Programs › Subtitle 4 - Maryland Industrial Development Financing Authority › Part I - General Provisions › Section 5-401 - Definitions

(a)    In this subtitle the following words have the meanings indicated.
(b)    “Authority” means the Maryland Industrial Development Financing Authority.
(c)    (1)    “Authorized purpose obligation” means an evidence of obligation issued, offered for sale, or delivered by any person or public body for any purpose that the Authority determines will accomplish the purposes of this subtitle.
(2)    “Authorized purpose obligation” includes:
(i)    a bond;
(ii)    a note;
(iii)    a certificate; and
(iv)    any other evidence of obligation.
(d)    (1)    “Bond” means a bond or note that is issued and sold by a public body, unit, or instrumentality of the State to finance a facility or refund an outstanding bond.
(2)    “Bond” includes:
(i)    a bond anticipation note;
(ii)    a note in the nature of commercial paper or other instrument;
(iii)    a certificate;
(iv)    a bond issued under this subtitle or Title 12, Subtitle 1 of this article (Maryland Economic Development Revenue Bond Act); and
(v)    any other evidence of obligation.
(e)    “Cogeneration” means the combined generation by a facility of:
(1)    electrical or mechanical power; and
(2)    energy used for industrial, commercial, heating or cooling purposes, including:
(i)    steam;
(ii)    heat; and
(iii)    other forms of energy.
(f)    “Commercial building” means a building that:
(1)    is used primarily to carry on a for–profit or nonprofit business;
(2)    is not residential; and
(3)    is not used primarily to manufacture or produce raw materials, products, or agricultural commodities.
(g)    “Energy audit” means:
(1)    an energy audit performed for the purposes of Title VII of the Energy Policy and Conservation Act, 42 U.S.C. §§ 6201 through 6422; or
(2)    an onsite inspection of a commercial building, an industrial building, or an industrial process to determine and provide information on:
(i)    the type, quantity, and rate of energy consumption of the building or process;
(ii)    maintenance and operation procedures that might reduce the energy consumption of the building or process; and
(iii)    the cost of implementing an appropriate energy conservation project, a solar energy project, or both, and the savings in energy costs likely to result from the project.
(h)    “Energy conservation project” means a project that qualifies under § 5-447 of this subtitle.
(i)    (1)    “Energy project” means a project that qualifies under § 5-445 of this subtitle.
(2)    “Energy project” includes:
(i)    an energy conservation project; and
(ii)    a solar energy project.
(j)    “Export-related financing transaction” means financing provided to a manufacturer of goods in the State, or a seller of goods or services in the State, if the goods or services are intended for sale to a foreign entity.
(k)    (1)    “Facility” has the meaning stated in § 12-101 of this article.
(2)    “Facility” includes an energy project.
(l)    “Facility applicant” has the meaning stated in § 12-101 of this article.
(m)    “Facility user” has the meaning stated in § 12-101 of this article.
(n)    “Finance” includes refinance.
(o)    “Foreign entity” means:
(1)    a person located outside the United States; or
(2)    a governmental unit of a country other than the United States.
(p)    “Fund” means the Industrial Development Fund established under § 5-423 of this subtitle.
(q)    “Improve” means to construct, reconstruct, equip, expand, extend, improve, install, rehabilitate, or remodel.
(r)    “Improvement” means construction, addition, alteration, equipping, expansion, extension, improvement, installation, reconstruction, rehabilitation, remodeling, or repair.
(s)    (1)    “Industrial building” means a building that:
(i)    is used primarily to carry on a for–profit or nonprofit business;
(ii)    is used primarily for an industrial process; and
(iii)    controls energy usage within its exterior envelope but does not have a peak design rate of energy usage of less than:
1.    3.5 B.T.U. per hour per square foot; or
2.    1 watt per square foot of floor area.
(2)    “Industrial building” does not include a commercial building or a residential building.
(t)    “Industrial process” means:
(1)    a process used to produce or manufacture goods or products; or
(2)    the storage or shipment of materials, goods, or products.
(u)    “Public body” has the meaning stated in § 12-101 of this article.
(v)    “Public port” has the meaning stated in § 12-101 of this article.
(w)    “Retail establishment” means an establishment that sells goods or services to the ultimate user or consumer for personal use rather than business use.
(x)    “Solar energy project” means a project that qualifies under § 5-448 of this subtitle.