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 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-653 - Hippodrome Performing Arts Financing Fund

(a)    There is a Hippodrome Performing Arts Financing Fund.
(b)    (1)    The Hippodrome Performing Arts Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle concerning the Hippodrome Performing Arts facility.
(2)    The Authority shall:
(i)    use the Hippodrome Performing Arts Fund as a revolving fund for implementing this subtitle concerning the Hippodrome Performing Arts facility; and
(ii)    pay any and all expenses from the Hippodrome Performing Arts Fund that are incurred by the Authority concerning the Hippodrome Performing Arts facility.
(c)    (1)    To the extent considered appropriate by the Authority, the receipts of the Hippodrome Performing Arts Fund shall be pledged to and charged with the following relating to the Hippodrome Performing Arts facility:
(i)    the payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to Authority borrowing; and
(iii)    the management of Authority obligations.
(2)    The pledge shall be effective as provided in § 10–634 of this subtitle.
(d)    The Hippodrome Performing Arts Fund consists of:
(1)    funds appropriated for deposit to the Hippodrome Performing Arts Fund;
(2)    proceeds from the sale of bonds concerning the Hippodrome Performing Arts facility;
(3)    revenues collected or received from any source under this subtitle concerning the Hippodrome Performing Arts facility; and
(4)    any additional money made available from any public or private source for the purposes established for the Hippodrome Performing Arts Fund.
(e)    (1)    The Treasurer shall invest the money of the Hippodrome Performing Arts Fund in the same manner as State funds.
(2)    Any investment earnings shall be credited to the Hippodrome Performing Arts Fund.
(3)    No part of the Hippodrome Performing Arts Fund may revert or be credited to the General Fund or any special fund 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 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-654 - Montgomery County Conference Financing Fund

(a)    There is a Montgomery County Conference Financing Fund.
(b)    (1)    The Montgomery County Conference Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle concerning the Montgomery County Conference facility.
(2)    The Authority shall:
(i)    use the Montgomery County Conference Fund as a revolving fund for implementing this subtitle relating to the Montgomery County Conference facility; and
(ii)    pay any and all expenses incurred by the Authority concerning the Montgomery County Conference facility from the Montgomery County Conference Fund.
(c)    (1)    To the extent considered appropriate by the Authority, the receipts of the Montgomery County Conference Fund shall be pledged to and charged with the following relating to the Montgomery County Conference facility:
(i)    the payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to Authority borrowing; and
(iii)    the management of Authority obligations.
(2)    The pledge shall be effective as provided in § 10-634 of this subtitle.
(d)    The Montgomery County Conference Fund consists of:
(1)    funds appropriated for deposit to the Montgomery County Conference Fund;
(2)    proceeds from the sale of bonds concerning the Montgomery County Conference facility;
(3)    revenues collected or received from any source under this subtitle concerning the Montgomery County Conference facility; and
(4)    any additional money made available from any public or private sources for the purposes established for the Montgomery County Conference Fund.
(e)    (1)    The Treasurer shall invest the money of the Montgomery County Conference Fund in the same manner as State funds.
(2)    Any investment earnings shall be credited to the Montgomery County Conference Fund.
(3)    No part of the Montgomery County Conference Fund may revert or be credited to the General Fund or any special fund 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 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-655 - Ocean City Convention Financing Fund

(a)    There is an Ocean City Convention Financing Fund.
(b)    (1)    The Ocean City Convention Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle relating to the Ocean City Convention facility.
(2)    The Authority shall:
(i)    use the Ocean City Convention Fund as a revolving fund for implementing this subtitle relating to the Ocean City Convention facility; and
(ii)    pay any and all expenses incurred by the Authority concerning the Ocean City Convention facility from the Ocean City Convention Fund.
(c)    (1)    To the extent considered appropriate by the Authority, the receipts of the Ocean City Convention Fund shall be pledged to and charged with the following relating to the Ocean City Convention facility:
(i)    the payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to Authority borrowing; and
(iii)    the management of Authority obligations.
(2)    The pledge shall be effective as provided in § 10–634 of this subtitle and any applicable Authority provision.
(d)    The Ocean City Convention Fund consists of:
(1)    funds appropriated for deposit to the Ocean City Convention Fund;
(2)    proceeds from the sale of bonds concerning the Ocean City Convention facility;
(3)    revenues collected or received from any source under this subtitle concerning Ocean City Convention facilities; and
(4)    any additional money made available from any public or private sources for the purposes established for the Ocean City Convention Fund.
(e)    (1)    The Treasurer shall invest the money of the Ocean City Convention Fund in the same manner as State funds.
(2)    Any investment earnings shall be credited to the Ocean City Convention Fund.
(3)    No part of the Ocean City Convention Fund may revert or be credited to the General Fund or any special fund 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 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-656 - Baltimore City Public School Construction Financing Fund

(a)    There is a Baltimore City Public School Construction Financing Fund.
(b)    (1)    The Baltimore City Public School Construction Financing Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle concerning Baltimore City public school facilities.
(2)    The Authority shall:
(i)    use the Baltimore City Public School Construction Financing Fund as a revolving fund for carrying out this subtitle concerning Baltimore City public school facilities; and
(ii)    pay any and all expenses from the Baltimore City Public School Construction Financing Fund that are incurred by the Authority related to any Baltimore City public school facilities.
(c)    (1)    To the extent considered appropriate by the Authority, the money on deposit in the Baltimore City Public School Construction Financing Fund shall be pledged to and used to pay the following relating to Baltimore City public school facilities:
(i)    debt service on Authority bonds;
(ii)    debt service reserves under a trust agreement;
(iii)    all reasonable charges and expenses related to Authority borrowing; and
(iv)    all reasonable charges and expenses related to the Authority’s administration of the Baltimore City Public School Construction Financing Fund and management of the Authority’s obligations.
(2)    The pledge shall be effective as provided in § 10–634 of this subtitle and any applicable Authority resolution.
(d)    The Baltimore City Public School Construction Financing Fund consists of:
(1)    money deposited in the Baltimore City Public School Construction Financing Fund;
(2)    to the extent that the proceeds are not under a trust agreement, proceeds from the sale of bonds concerning Baltimore City public school facilities;
(3)    revenues collected or received from any source under this subtitle related to Baltimore City public school facilities, including revenues collected or received in accordance with § 9–120 of the State Government Article;
(4)    funds to be deposited in accordance with § 10–645 of this subtitle; and
(5)    any additional money made available from any public source for the purposes established for the Baltimore City Public School Construction Financing Fund.
(e)    (1)    The Treasurer shall invest the money of the Baltimore City Public School Construction Financing Fund in the same manner as other State funds.
(2)    Any investment earnings shall be credited to the Baltimore City Public School Construction Financing Fund.
(3)    No part of the Baltimore City Public School Construction Financing Fund may revert or be credited to the General Fund or any special fund 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 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-657.1 - Supplemental Facilities Fund

(a)    There is a Supplemental Facilities Fund.
(b)    (1)    The Supplemental Facilities Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle concerning supplemental facilities.
(2)    The Authority shall:
(i)    use the Supplemental Facilities Fund as a revolving fund for carrying out the provisions of this subtitle concerning supplemental facilities; and
(ii)    pay any and all expenses from the Supplemental Facilities Fund that are incurred by the Authority related to a supplemental facility.
(c)    (1)    To the extent considered appropriate by the Authority, the receipts of a supplemental facility shall be pledged to and charged with the following relating to the supplemental facility:
(i)    the payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to Authority borrowing; and
(iii)    the management of Authority obligations.
(2)    The pledge shall be effective as provided in § 10–634 of this subtitle and any applicable Authority resolution.
(d)    The Supplemental Facilities Fund consists of:
(1)    funds appropriated for deposit to the Supplemental Facilities Fund;
(2)    proceeds from the sale of bonds concerning supplemental facilities;
(3)    revenues collected or received from any source under this subtitle related to supplemental facilities; and
(4)    any additional money made available from any public or private source for the purposes established for the Supplemental Facilities Fund.
(e)    (1)    The State Treasurer shall invest the money of the Supplemental Facilities Fund in the same manner as other State funds.
(2)    Any investment earnings shall be credited to the Supplemental Facilities Fund.
(3)    No part of the Supplemental Facilities Fund may revert or be credited to the General Fund or any special fund 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 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-657.2 - Racing and Community Development Financing Fund -- Use by Authority -- Funding -- Investments

(a)    There is a Racing and Community Development Financing Fund.
(b)    (1)    The Racing and Community Development Financing Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle concerning racing and community development projects.
(2)    The Authority shall:
(i)    use the Racing and Community Development Financing Fund as a revolving fund for implementing this subtitle relating to racing and community development projects; and
(ii)    pay any and all expenses from the Racing and Community Development Financing Fund that are incurred by the Authority, or otherwise specifically approved by the Authority, concerning racing and community development projects.
(c)    (1)    To the extent considered appropriate by the Authority, the receipts of the Racing and Community Development Financing Fund shall be pledged to and charged with the following relating to racing and community development projects:
(i)    the payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to Authority borrowing; and
(iii)    the management of Authority obligations.
(2)    The pledge shall be effective in the same manner as provided in § 10–634 of this subtitle.
(d)    The Racing and Community Development Financing Fund consists of:
(1)    funds appropriated for deposit to the Racing and Community Development Financing Fund;
(2)    proceeds from the sale of bonds concerning racing and community development projects;
(3)    revenues collected or received from any source under this subtitle concerning racing and community development projects;
(4)    investment and interest earnings;
(5)    money paid to the Racing and Community Development Financing Fund under § 9–120 of the State Government Article; and
(6)    any additional money made available from any public or private sources for the purposes established for the Racing and Community Development Financing Fund.
(e)    (1)    The State Treasurer shall invest the money of the Racing and Community Development Financing Fund in the same manner as other State funds.
(2)    Any investment or interest earnings shall be credited to the Racing and Community Development Financing Fund.
(3)    No part of the Racing and Community Development Financing Fund may revert or be credited to the General Fund of the State or any special fund 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 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-657.4 - Hagerstown Multi-Use Sports and Events Facility Fund -- Purpose -- Administration -- Nature of Fund -- Items Included in Fund -- Investments

(a)    In this section, “Fund” means the Hagerstown Multi–Use Sports and Events Facility Fund.
(b)    There is a Hagerstown Multi–Use Sports and Events Facility Fund.
(c)    The purpose of the Fund is to enable the Authority to:
(1)    use the Fund as a revolving fund for implementing this subtitle as it relates to the Hagerstown Multi–Use Sports and Events Facility; and
(2)    pay any expenses incurred by the Authority that are related to the Hagerstown Multi–Use Sports and Events Facility.
(d)    The Authority shall administer the Fund.
(e)    (1)    The Fund is a continuing, 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.
(f)    (1)    To the extent considered appropriate by the Authority, the receipts of the Fund shall be pledged to and charged with the following relating to the Hagerstown Multi–Use Sports and Events Facility:
(i)    payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to the Authority’s borrowing; and
(iii)    the management of Authority obligations.
(2)    The pledge shall be effective as provided in § 10–634 of this subtitle.
(g)    The Fund consists of:
(1)    money appropriated for deposit in the Fund;
(2)    revenues collected or received from any source under this subtitle concerning the Hagerstown Multi–Use Sports and Events Facility; and
(3)    any additional money made available from any public or private source for the purposes established for the Fund.
(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 interest earnings of the Fund shall be paid into the Fund.
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 VII - Funds › Section 10-657.5 - Sports Entertainment Facilities Financing Fund -- Funding -- Use of Funds -- Investments

(a)    In this section, “Fund” means the Sports Entertainment Facilities Financing Fund.
(b)    There is a Sports Entertainment Facilities Financing Fund.
(c)    (1)    The Fund is a continuing, nonlapsing fund that shall be available to implement this subtitle concerning sports entertainment facilities.
(2)    The Authority shall:
(i)    use the Fund as a revolving fund for carrying out this subtitle concerning sports entertainment facilities; and
(ii)    pay any and all expenses from the Fund that are incurred by the Authority related to any sports entertainment facility.
(d)    To the extent considered appropriate by the Authority, the money on deposit in the Fund shall be pledged to and used to pay the following related to sports entertainment facilities:
(1)    debt service on Authority bonds;
(2)    debt service reserves under a trust agreement;
(3)    all reasonable charges and expenses related to Authority borrowing; and
(4)    all reasonable charges and expenses related to the Authority’s administration of the Fund and management of the Authority’s obligations.
(e)    The Fund consists of:
(1)    money deposited into the Fund;
(2)    to the extent that the proceeds are not under a trust agreement, proceeds from the sale of bonds concerning sports entertainment facilities;
(3)    revenues collected or received from any source under this subtitle related to sports entertainment facility projects;
(4)    any interest earnings of the Fund; and
(5)    any additional money made available from any public source for the purposes established for the Fund.
(f)    (1)    The State Treasurer shall invest the money of the Fund in the same manner as other State funds.
(2)    Any investment earnings shall be credited to the Fund.
(3)    No part of the Fund may revert or be credited to the General Fund or any special fund 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 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-657.6 - Prince George's County Blue Line Corridor Facility Fund -- Purpose -- Administration -- Funding -- Investments

(a)    In this section, “Fund” means the Prince George’s County Blue Line Corridor Facility Fund.
(b)    There is a Prince George’s County Blue Line Corridor Facility Fund.
(c)    The purpose of the Fund is to enable the Authority to:
(1)    use the Fund as a revolving fund for implementing this subtitle as it relates to a Prince George’s County Blue Line Corridor facility; and
(2)    pay any expenses incurred by the Authority that are related to a Prince George’s County Blue Line Corridor facility.
(d)    The Authority shall administer the Fund.
(e)    (1)    The Fund is a continuing, 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.
(f)    (1)    To the extent considered appropriate by the Authority, the receipts of the Fund shall be pledged to and charged with the following related to a Prince George’s County Blue Line Corridor facility:
(i)    payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to the Authority’s borrowing; and
(iii)    the management of the Authority’s obligations.
(2)    The pledge shall be effective in the same manner as provided in § 10–634 of this subtitle.
(g)    The Fund consists of:
(1)    money distributed to the Fund under § 9–120(b)(1)(xi) of the State Government Article;
(2)    money appropriated for deposit in the Fund;
(3)    proceeds from the sale of bonds concerning a Prince George’s County Blue Line Corridor facility;
(4)    revenues collected or received from any source under this subtitle related to a Prince George’s County Blue Line Corridor facility;
(5)    any interest earnings of the Fund; and
(6)    any additional money made available from any source for the purposes established for the Fund.
(h)    (1)    The State Treasurer shall invest the money of the Fund in the same manner as other State funds.
(2)    Any interest earnings shall be credited to the Fund.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 7 - Maryland Venture Capital Trust › Section 10-701 - Definitions

(a)    In this subtitle the following words have the meanings indicated.
(b)    “Board” means the Board of Trustees of the Maryland Venture Capital Trust.
(c)    “Investor” means a person or governmental entity that invests money in the Maryland Venture Capital Trust.
(d)    (1)    “Seed capital financing” means financing provided to a business during the initial stages of its development.
(2)    “Seed capital financing” includes financing for a business:
(i)    to finish research and development of a product;
(ii)    to develop marketing plans; and
(iii)    to provide for initial facilities, inventory, and working capital.
(e)    “Trust” means the Maryland Venture Capital Trust.
(f)    “Venture capital fund” means an investment fund that provides capital to a business at any stage of its development before the business makes a public offering of stock.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 7 - Maryland Venture Capital Trust › Section 10-702 - Legislative Findings; Intent

(a)    The General Assembly finds that:
(1)    small businesses are a major source of new jobs and innovations in the State;
(2)    the State’s research capacity could spur innovation in new and existing businesses to create and maintain jobs in the State; and
(3)    an inadequate supply of seed capital financing and venture capital funds has limited the commercialization of research and development in the State.
(b)    The General Assembly intends for the Trust to:
(1)    help fill the gap in the State’s economy caused by the inadequate supply of seed capital financing and venture capital funds; and
(2)    stimulate the commercialization of research and development to create and sustain businesses throughout 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 7 - Maryland Venture Capital Trust › Section 10-705 - Board of Trustees

(a)    There is a Board of Trustees of the Trust.
(b)    (1)    The Board consists of seven members appointed by the Governor with the advice and consent of the Senate.
(2)    Of the seven members:
(i)    four shall represent the investors and have been recommended to the Governor by the investors;
(ii)    at least one shall have expertise in venture capital financing; and
(iii)    at least one shall have experience as a small business owner.
(3)    Each member shall be a resident of the State.
(4)    The Governor shall consider geographic diversity of the State when appointing members of the Board.
(c)    (1)    The term of a member is 4 years.
(2)    The terms of members are staggered as required by the terms provided for members of the Board 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.
(5)    The Governor may remove a member with or without cause.
(d)    The Governor shall appoint a chair from among the Board members.
(e)    (1)    A majority of the members then serving on the Board is a quorum.
(2)    A majority vote of the members present at a meeting having a quorum is needed for the Board to act.
(f)    A member of the Board:
(1)    may not receive compensation as a member of the Board; but
(2)    is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.
(g)    The Board:
(1)    shall manage the Trust; and
(2)    exercises all of the corporate powers of the Trust.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 7 - Maryland Venture Capital Trust › Section 10-706 - Applicability of Other Laws

(a)    The Trust is:
(1)    exempt from the General Procurement Law provisions of Division II of the State Finance and Procurement Article; but
(2)    subject to Title 12, Subtitle 4 of the State Finance and Procurement Article.
(b)    The Trust is exempt 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 7 - Maryland Venture Capital Trust › Section 10-707 - Powers

(a)    The Trust may:
(1)    solicit and accept for investment in the Trust money from any source including not more than $2,000,000 in appropriations from the State;
(2)    enter into agreements with the investors that set forth the terms governing the investment of money in the Trust by the investors;
(3)    by preparing and publishing requests for proposals, solicit offerings by venture capitalists and venture capital funds that meet the purposes and requirements of the Trust, which shall be set forth in the requests for proposals;
(4)    subject to § 10-708 of this subtitle, select the venture capital funds in which to invest money from the Trust;
(5)    retain investment earnings that exceed the investment earnings that the Trust must pay to investors; and
(6)    take any action necessary to carry out the powers expressly granted by this subtitle.
(b)    (1)    The Trust may not accept a cumulative investment of more than $15,000,000 from the State Retirement and Pension System.
(2)    The Trust may not accept a cumulative investment of more than $5,000,000 from any other single investor.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 7 - Maryland Venture Capital Trust › Section 10-708 - Preferred Proposals

The Board shall give preference to venture capital fund proposals that:
(1)    provide financing predominately to businesses that conduct a substantial amount of business in the State;
(2)    require venture capital funds to match the money invested by the Trust with money invested by private investors on at least a 1 to 3 ratio; and
(3)    ensure that a majority of the money that the Trust invests is for seed capital financing 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 7 - Maryland Venture Capital Trust › Section 10-710 - Liability of State

A debt, claim, obligation, or liability of the Trust is not a debt, claim, obligation, or liability of the State or a unit or instrumentality of the State or a pledge of the State’s credit.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 7 - Maryland Venture Capital Trust › Section 10-712 - Audits

(a)    Each year, an independent auditor approved by the State shall audit the books and records of the Trust.
(b)    At its discretion, the State may audit the books and records of the Trust.
(c)    The Trust shall pay the expense of an audit conducted under this section.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part I - General Provisions › Section 10-803 - Construction and Effect of Subtitle

(a)    This subtitle shall be liberally construed to carry out its purposes.
(b)    This subtitle may not be construed to limit or restrict the duties, programs, or authority of the Maryland Energy Administration.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-806 - Established

(a)    There is a Maryland Clean Energy Center.
(b)    The Center is a body politic and corporate and is an instrumentality of the State.
(c)    The exercise by the Center of the powers conferred by this subtitle is the performance of an essential governmental function.
(d)    The purposes of the Center are to:
(1)    promote economic development and jobs in the advanced clean energy industry and clean energy innovation industry sectors in the State;
(2)    promote the deployment of advanced clean energy technology and clean energy innovations in the State;
(3)    serve as an incubator for the development of the advanced clean energy industry and clean energy innovation industry in the State;
(4)    in collaboration with the Administration, collect, analyze, and disseminate industry data;
(5)    provide outreach and technical support to further the advanced clean energy industry and clean energy innovation industry in the State; and
(6)    work as a green bank and in conjunction with local and private green banks.
(e)    It is the intent of the General Assembly that, as the Center develops programs and activities under this subtitle, the Center and the Administration shall work collaboratively together, as appropriate, in order to coordinate shared–interest functions and avoid duplication of efforts.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-807 - Board of Directors

(a)    A Board of Directors shall manage the Center and exercise its corporate powers.
(b)    The Board consists of the following nine members:
(1)    the Director, or the Director’s designee;
(2)    the Director of the Maryland Energy Innovation Institute, or the Director of the Maryland Energy Innovation Institute’s designee; and
(3)    seven members appointed by the Governor with the advice and consent of the Senate:
(i)    one representing the nonprofit advanced clean energy research sector of the State;
(ii)    two with expertise in capital financing;
(iii)    two representing advanced clean energy industries in the State;
(iv)    one consumer member; and
(v)    one member of the general public.
(c)    A member of the Board shall reside in the State.
(d)    In making appointments to the Board, the Governor shall consider:
(1)    diversity; and
(2)    all geographic regions of the State.
(e)    A member of the Board:
(1)    may not receive compensation as a member of the Board; but
(2)    is entitled to reimbursement for expenses under the Standard State Travel Regulations, as provided in the State budget.
(f)    (1)    The term of an appointed member is 4 years and begins on July 1.
(2)    The terms of the appointed members are staggered as required by the terms provided for members on October 1, 2008.
(3)    At the end of a term, an appointed 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.
(g)    The Governor may remove an appointed member for incompetence, misconduct, or failure to perform the duties of the position.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-808 - Officers

From among the members of the Board:
(1)    the Governor shall appoint a chair; and
(2)    the Board shall elect a vice chair and a treasurer.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-809 - Meetings; Quorum

(a)    The Board shall determine the times and places of its meetings.
(b)    (1)    A majority of the appointed and qualified members of the Board is a quorum.
(2)    The Board may act with an affirmative vote of a majority of the appointed and qualified members of the Board.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-810 - Committees

(a)    (1)    The Board shall establish an Advisory Committee.
(2)    The Advisory Committee consists of individuals that the Board considers will assist the Center in studying and developing policies to further the purposes of this subtitle.
(b)    (1)    The Board shall establish a Financing Investment Advisory Committee.
(2)    The Financing Investment Advisory Committee consists of individuals with knowledge and expertise in financing matters relevant to borrower eligibility, terms and conditions of support, and other financing evaluation criteria of the Center.
(3)    Before the Center provides financing for a project, including a project to be funded by the Maryland Energy Innovation Fund under § 10–835 of this subtitle, the Financing Investment Advisory Committee shall review and make recommendations to the Board for qualifying project applicants.
(4)    The Maryland Economic Development Corporation and other State economic development units may provide resources and expertise to the Financing Investment Advisory Committee and the Center to assist in evaluating projects, coordinating financing for projects, and other matters.
(c)    The Board may establish other committees as appropriate.
(d)    (1)    The membership of a committee may include individuals who are not Board members.
(2)    The Board may establish the term and manner of selection of the membership of a committee.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-811 - Executive Director

(a)    (1)    Subject to the approval of the Governor, the Board shall appoint an Executive Director.
(2)    The Executive Director serves at the pleasure of the Board.
(3)    The Board shall determine the salary of the Executive Director.
(b)    (1)    The Executive Director is the chief administrative officer of the Center.
(2)    The Executive Director shall manage the administrative affairs and technical activities of the Center in accordance with policies and procedures that the Board establishes.
(c)    The Executive Director, or the Executive Director’s designee, shall:
(1)    attend all meetings of the Board;
(2)    act as secretary to the Board;
(3)    keep minutes of all proceedings of the Board;
(4)    approve all salaries, per diem payments, and allowable expenses of the Center, its employees, and its consultants;
(5)    approve any expenses incidental to the operation of the Center; and
(6)    perform the other duties that the Board directs in carrying 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 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-812 - Legal Advisor

(a)    The Attorney General is the legal advisor to the Center.
(b)    With the approval of the Attorney General, the Center may retain any necessary lawyers.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-814 - Applicability of Other Laws

(a)    Except as provided in subsections (b), (c), and (e) of this section, the Center is exempt from Title 10 and Division II of the State Finance and Procurement Article.
(b)    (1)    The Center is subject to:
(i)    the Public Information Act; and
(ii)    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 Center if no organizational business is conducted.
(c)    The Board and the officers and employees of the Center are subject to the Public Ethics Law.
(d)    The officers and employees of the Center are not subject to the provisions of Division I of the State Personnel and Pensions Article that govern the State Personnel Management System.
(e)    The Center, its Board, and employees are subject to Title 12, Subtitle 4 and Title 14, Subtitle 3 of the State Finance and Procurement Article.
(f)    The Center 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 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-815 - Findings of Board

A finding by the Board concerning the public purpose of an action, the legislative intent expressed under this subtitle, or the appropriateness of the action in serving the public purpose and satisfying the legislative intent is conclusive in a proceeding that involves the validity or enforceability of:
(1)    an agreement entered into by the Center under this subtitle;
(2)    a bond; or
(3)    any security relating to a bond.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-816 - Accounting; Fiscal Year

(a)    The Center shall establish a system of financial accounting, controls, audits, and reports.
(b)    The fiscal year of the Center begins on July 1 and ends on the following June 30.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-817 - Money of Center

(a)    The Center may create and administer the accounts that it requires.
(b)    The Center shall deposit its money into a State or national bank or a federally insured savings and loan association that has a total paid–in capital of at least $1,000,000.
(c)    The Center may designate the trust department of a State bank, national bank, or savings and loan association as a depository to receive securities that the Center owns or acquires.
(d)    Unless an agreement or covenant between the Center and the holders of its obligations limits classes of investments, the Center may invest its money in bonds or other obligations of, or guaranteed as to principal and interest by, the United States, the State, or a governmental unit.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-818 - Inspection of Public Records

(a)    (1)    The Executive Director and each other officer authorized by the Center may:
(i)    allow copies to be made of the minutes and records of the Center; and
(ii)    certify records under seal showing that the copies are true copies.
(2)    A person may rely on the certified record.
(b)    The records of the Center are public records subject to reasonable inspection.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-819 - Powers -- in General

The Center may:
(1)    adopt bylaws for the conduct of its business;
(2)    adopt a seal;
(3)    maintain offices at a place it designates in the State;
(4)    accept loans, grants, or assistance of any kind from the federal or State government, a local government, a college or university, or a private source;
(5)    enter into contracts and other legal instruments;
(6)    sue or be sued;
(7)    acquire, purchase, hold, lease as lessee, and use:
(i)    a franchise, patent, or license;
(ii)    any real, personal, mixed, tangible, or intangible property; or
(iii)    an interest in the property listed in this item;
(8)    sell, lease as lessor, transfer, license, assign, or dispose of property or a property interest that it acquires;
(9)    fix and collect rates, rentals, fees, royalties, and charges for services and resources it provides or makes available;
(10)    create, own, control, or be a member of a corporation, limited liability company, partnership, or other entity, whether operated for profit or not for profit;
(11)    exercise power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and
(12)    do all things 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 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-821 - Powers -- Projects

The Center may:
(1)    acquire, develop, improve, manage, market, license, sublicense, maintain, lease as lessor or lessee, or operate a project in the State to carry out its purposes;
(2)    acquire, directly or indirectly, from a person or governmental unit, by purchase, gift, or devise any property, rights–of–way, franchises, easements, or other interests in land, including submerged land and riparian rights:
(i)    as necessary or convenient to improve or operate a project to carry out its purposes; and
(ii)    on the terms and at the prices that it considers reasonable; and
(3)    enter into a project with a manufacturer to carry out its purposes.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-821.1 - Center May Enter Financing Transactions on State-Owned or State-Leased Property Â Terms Â Transactions Efficient and Cost-Effective

(a)    The Center may enter into financing transactions with, on behalf of, or for the benefit of any State agency for the purposes of a project on State–owned or State–leased property.
(b)    Financing under this section:
(1)    may be in any form, including bonds, loans, grants, energy performance contracts, shared energy savings contracts, participation agreements, lease agreements, and reimbursement agreements; but
(2)    may not pledge the faith and credit of the State.
(c)    The Department of General Services and the Department of Budget and Management shall work with the Center to ensure that financing transactions under this section are efficient and cost–effective for 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 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-822 - Powers -- Debt

The Center may:
(1)    borrow money and issue bonds to finance any part of the cost of a project or for any other corporate purpose of the Center;
(2)    secure the payment of any portion of the borrowing by pledge of or mortgage or deed of trust on property or revenues of the Center;
(3)    combine projects for financing, make agreements with or for the benefit of the bondholders or with others in connection with the issuance or future issuance of bonds, as the Center considers advisable; and
(4)    otherwise provide for the security of bonds and the rights of bondholders.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 8 - Maryland Clean Energy Center › Part II - Maryland Clean Energy Center › Section 10-823 - Dissemination of Information; Cooperation and Consultation With Other Units

(a)    The Center may disseminate information and materials pertinent to advanced clean energy technology, clean energy innovation, financing, and development in the State, for persons engaged in the advanced clean energy and clean energy innovation industries as developers, manufacturers, and installers, as well as for consumers and financial institutions, including information on available federal, State, and private financial assistance and technical assistance.
(b)    The Center may:
(1)    cooperate with and provide assistance to local governments, instrumentalities, and research entities in the State; and
(2)    coordinate advanced clean energy technology and clean energy innovation development, education, and deployment activities with programs of the federal government and of governmental units and public and private entities in and outside the State.
(c)    The Center may conduct the activities under this section in consultation with the Administration.
(d)    The Maryland Environmental Service, the Maryland Economic Development Corporation, and other State economic development units shall cooperate with the Center and may make available to the Center resources and expertise for the evaluation of project financing and coordination of financing between the Center and other economic development units.