reglab/statecodes huggingface dataset:
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.12 - Cellulosic Ethanol Technology Research and Development Tax Credit › Section 24.05.12.16 - Partnerships, S Corporations, Limited Liability Companies, Business Trusts, Estates, and Trusts

Current through Register Vol. 51, No. 14, July 12, 2024
A. Partnerships, S Corporations, Limited Liability Companies, and Business Trusts. In the case of a subchapter S corporation, partnership, limited liability company, or business trust, the amount of the credit computed for the pass-through entity shall be allocated among the owners as agreed to in writing by the owners. If there is no written agreement governing the allocation of the credit, the credit shall be allocated in the same proportion as other items are allocated for the taxable year.
B. Estates and Trusts. In the case of an estate or trust, the amount of the credits computed for the estate or trust for any taxable year shall be apportioned among the estate or trust and the beneficiaries on the basis of the income of the estate or trust allocable to each beneficiary of the estate or trust under the controlling instrument or rule of law.
C. Statements to Partners, Shareholders, Members, and Beneficiaries.
(1) Requirements. A partnership, S corporation, limited liability company, business trust, estate, or trust shall provide each of its partners, shareholders, members, or beneficiaries with an income tax statement.
(2) Form and Contents of Statement.
(a) Form. A partnership, S corporation, limited liability company, business trust, estate, or trust may elect to use a:
(i) Modified federal Schedule K-1; or
(ii) Statement prepared on its own form.
(b) Contents. In addition to the contents required under COMAR 03.04.07.04B(2), the statement shall contain the amount of each credit apportioned to the individual partner, shareholder, member, or beneficiary.
(3) Statement Attached to Return. A partner, shareholder, member, or beneficiary shall attach a copy of the statement to the income tax return on which the credit is claimed.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.12 - Cellulosic Ethanol Technology Research and Development Tax Credit › Section 24.05.12.17 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary may waive or vary particular provisions of this chapter to the extent that the waiver is not inconsistent with Tax-General Article, §10-726, Annotated Code of Maryland.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.01 - Purpose

Current through Register Vol. 51, No. 14, July 12, 2024
This chapter describes the policies, procedures, and authorizations for the Maryland Commission on Public Art to promote the installation of artwork in public facilities for the enrichment of the public.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.02 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Acquire" means obtain by purchase or commission.
(2) "Act" means Economic Development Article, §§
										4-601 -4-608, Annotated Code of Maryland.
(3) Art, Artwork, or Work of Art.
(a) "Art, artwork, or work of art" means an original creative work by an artist.
(b) "Art, artwork, or work of art" may include, but is not limited to, paintings, mosaics, sculpture, frescoes, stained glass, and decorative, ornamental work that is integrated into a structure.
(4) "Artist" means an individual professionally engaged in the production of creative and original artwork.
(5) "Commission" means the Maryland Commission on Public Art.
(6) "Commissioned artwork" means art, artwork, or works of art authorized by the Commission to be made or done under the Program.
(7) "Department" means the Department of Business and Economic Development.
(8) "Fund" means the Maryland Public Art Fund.
(9) "Local government" means a county or municipal corporation in the State.
(10) "Program" means the Maryland Public Art Initiative Program.
(11) "Public art project" means art, artwork, or works of art acquired under the Program using money from the Fund, to be installed or developed in or at public facilities and public spaces in the State.
(12) "Secretary" means the Secretary of Business and Economic Development or the Secretary's designee.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.03 - Program Activities Financed by the Fund

Current through Register Vol. 51, No. 14, July 12, 2024
The Fund shall be used to acquire art, artwork, or works of art to be owned by the State, to preserve public art assets, and to make grants to local governments.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.04 - Notice of Public Art Project

Current through Register Vol. 51, No. 14, July 12, 2024
The Commission shall post a notice of each proposed public art project on the website of the Maryland State Arts Council, stating:
A. A general description of the type of artwork to be commissioned;
B. A description of the site for which the artwork will be commissioned;
C. An estimated budget for the public art project; and
D. The deadline by which applications shall be filed.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.05 - Applications

Current through Register Vol. 51, No. 14, July 12, 2024
A. Artist Application. Public art project applications shall be made on standard forms prescribed by the Commission.
B. Each application shall include the following:
(1) The current resume of the artist;
(2) Images of relevant artwork by the artist; and
(3) Any other information the Commission requires related to the proposed public art project and the applicant.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.06 - Selection Panels

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Commission shall appoint one or more selection panels for each proposed public art project to review the applications of artists and the artwork to be funded under this chapter.
B. A selection panel shall consist of:
(1) A Commission member;
(2) A representative of the community where the artwork will be located;
(3) A representative of the facility where the artwork will be located;
(4) A materials conservator;
(5) Art professionals, including, but not limited to, visual artists, art educators, and architectural historians;
(6) Technical advisors to the site, including engineers, construction managers, and architects;
(7) Users of the facility where the artwork will be located; and
(8) Other key stakeholders selected by the Commission.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.07 - Commission Selection Criteria

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Commission shall consider all of the following criteria in selecting an artist and artwork under this chapter:
(1) Artistic excellence, innovation, and qualifications;
(2) Appropriateness of artwork for the site in terms of scale, form, content, and materials;
(3) Durability of the artwork;
(4) Community support;
(5) Appropriate site availability in public locations; and
(6) Extent of conservation and maintenance necessary for the artwork.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.08 - Budget Allocation for Public Art Projects

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Commission shall allocate money from the Fund to commission, maintain, and preserve works of art for installation at public facilities around the State.
B. The Commission shall determine the estimated budget allocation for a specific work of art. In determining the estimated budget allocation, the Commission may consider the following factors:
(1) The construction cost of the specific facility where the work of art will be located; and
(2) The amount of money in the Fund.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.09 - Local Community Involvement

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Commission shall post information concerning all proposed public art projects under the Program on the website of the Maryland State Arts Council.
B. The Commission shall give notice of its meetings and comply with all applicable requirements of State Government Article, §§10-501 -10-512, Annotated Code of Maryland.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.10 - Conservation and Maintenance

Current through Register Vol. 51, No. 14, July 12, 2024
A. All commissioned artwork funded by the Program shall be the property of the Commission.
B. The Commission, in cooperation with the Department of General Services, is responsible for the inventory, maintenance, and preservation of all artwork acquired through the Program, with funding for condition assessment and conservation activities provided by the Fund.
C. The Commission shall develop collection management guidelines to address documentation, condition assessment, routine maintenance, conservation maintenance, and conservation treatment.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.11 - Grants to Local Governments

Current through Register Vol. 51, No. 14, July 12, 2024
A. A local government may apply for a grant under the Act as set forth in this regulation.
B. Before a grant is awarded to a local government under this regulation, the local government shall provide and spend a matching fund.
C. A matching fund of a local government may not consist of:
(1) Money provided, directly or indirectly, from appropriated or unappropriated State money;
(2) Real property;
(3) In-kind contributions; or
(4) Money spent before June 1, 2005.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.13 - Maryland Public Art Initiative Program › Section 24.05.13.12 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary may waive or vary particular provisions of this chapter to the extent that a waiver is not inconsistent with the Act.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.01 - Purpose

Current through Register Vol. 51, No. 14, July 12, 2024
A. These regulations prescribe the policies and procedures that govern the activities of the Maryland Export Credit Program.
B. Under the Maryland Export Credit Program the State, through action of the Board of Public Works, may assign to business enterprises offset credits accrued by the State.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.02 - Objective

Current through Register Vol. 51, No. 14, July 12, 2024
A. The basic objective of the Program is to encourage the exportation by business enterprises located in Maryland of goods and services to foreign purchasers by assigning to those business enterprises offset credits accrued by the State.
B. This objective is to be accomplished in a way that:
(1) Is accepted by the foreign jurisdiction's offset authority;
(2) Maximizes economic and social benefits to the State proportionate to the amount of offset credits available to the State; and
(3) Imposes minimal costs to the State.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.04 - Offset Credits

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Department shall maintain records of purchases by the State resulting in offset credits to the State.
B. The records specified in §A of this regulation shall include the following information:
(1) Name and address of the company awarded the contract;
(2) The date of the contract;
(3) The purchase order number assigned to the contract;
(4) The dollar amount of the contract;
(5) Whether the goods or services that are the subject of the contract are from a foreign supplier, and if so, the identity of the foreign country and the name, address, and contact person for the supplier, and the estimated dollar value of the goods or services; or
(6) Whether any goods that are the subject of the contract contain foreign components, and if so, the identity of the foreign country, the name, address, and contact person for the foreign manufacturer, and the estimated dollar value of the foreign components.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.05 - Eligible Applicants

Current through Register Vol. 51, No. 14, July 12, 2024
A business enterprise that has entered into or is bidding on a foreign contract is eligible to apply for assignment of offset credits.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.06 - Eligible Uses

Current through Register Vol. 51, No. 14, July 12, 2024
Offset credits assigned to a business enterprise may be used only to satisfy offset requirements in foreign contracts approved by the Board of Public Works or the Secretary.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.07 - Advertising the Availability of Offset Credits

Current through Register Vol. 51, No. 14, July 12, 2024
A. From time to time the State shall advertise in the Maryland Register the availability of offset credits with an estimated value of $10,000 or greater and, at the Director's discretion, offset credits with an estimated value of less than $10,000.
B. The Director shall maintain a list of business enterprises that have expressed an interest in applying for assignment of offset credits relating to a particular foreign country, and shall inform those business enterprises of the availability of offset credits relating to that country.
C. The Director may, in addition, advertise the availability of offset credits to business enterprises through any other means.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.08 - Consideration for Assignment

Current through Register Vol. 51, No. 14, July 12, 2024
A. The consideration required for the assignment of offset credits to a business enterprise shall be as determined by the Board upon recommendation of the Secretary.
B. Consideration may consist of benefits derived by the State from creation of new contract opportunities that create new jobs and new capital investment in the State.
C. Consideration payable to the State shall be credited to the State's General Fund.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.09 - Solicitation of Applications

Current through Register Vol. 51, No. 14, July 12, 2024
A. The preferred method for the award of offset credits is by competitive applications.
B. The Program's request for applications shall include:
(1) Information concerning application submission requirements, including the date, time, and place for the receipt of applications;
(2) The evaluation factors and an indication of the relative importance of each evaluation factor, including consideration;
(3) A statement that discussions may be conducted with those applicants that submit applications initially judged by the Director to be reasonably susceptible of being selected for award; and
(4) A statement whether multiple or alternate applications may be submitted and their treatments.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.10 - Applications for Assignment of Offset Credits

Current through Register Vol. 51, No. 14, July 12, 2024
To apply for assignment of offset credits under the Program, an applicant shall submit to the Director an application containing the following information:
A. The name, address, and telephone number of the applicant and the name and title of the applicant's authorized representative for the application process;
B. Whether the applicant is seeking the offset credits to carry out an existing foreign contract as either a prime contractor or subcontractor or intends to bid on a foreign contract;
C. If the applicant is or intends to be a subcontractor, the name, address, and telephone number of the prime contractor, and the name of a contact person for the prime contractor;
D. The name of the foreign country to which the applicant intends to export its goods or services and the name, address, and telephone number of the purchaser in that country, and of the contact person for offset approval authority;
E. The date that the applicant entered into or anticipates entering into the foreign contract;
F. The estimated total value of the foreign contract during the term of the foreign contract;
G. The amount of the offset credits requested by the applicant;
H. The estimated number of jobs to be created or retained in the State as a result of the performance of the foreign contract during the term of the foreign contract, and the estimated value of the salaries and wages to be expended in the State;
I. The estimated value of the capital investment in the State to be generated by the foreign contract;
J. The estimated value of contracts to be awarded to subcontractors in the State, and to suppliers of goods and services in the State, resulting from the foreign contract;
K. Any cash payment the applicant will make to the State in consideration of assignment of the offset credits;
L. Any other activities of benefit to the State and its citizens that the applicant will carry out if assigned offset credits; and
M. Whether the applicant considers any of the information provided in the application to be confidential commercial or confidential financial information, pursuant to State Government Article, §
									10-617, Annotated Code of Maryland.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.11 - Evaluation of Applications

Current through Register Vol. 51, No. 14, July 12, 2024
A. Evaluation.
(1) An evaluation shall be based on the consideration obtained by the State in accordance with Regulation .08 of this chapter.
(2) Numerical rating systems may be used.
(3) Initial evaluations may be conducted and recommendation for award made by an evaluation committee.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.12 - Documentation

Current through Register Vol. 51, No. 14, July 12, 2024
If the Director makes a preliminary determination to recommend an award of offset credits, the Director may condition the recommendation upon an applicant's providing certain documentation or related requirements, which may include:
A. Execution by an applicant of an assignment agreement; and
B. Copies of the:
(1) Foreign contract,
(2) Solicitation, and
(3) Bid or proposal relating to the foreign contract.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.13 - Final Approval

Current through Register Vol. 51, No. 14, July 12, 2024
A. Approval by the Secretary.
(1) The Director may recommend to the Secretary approval of the assignment and forward to the Secretary a copy of the assignment agreement executed by the business enterprise.
(2) The Secretary may approve the assignment as recommended by the Director, or conditionally upon modification of its terms.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.14 - Nondiscrimination

Current through Register Vol. 51, No. 14, July 12, 2024
An applicant shall comply with all applicable federal, State, and local laws regarding discrimination and equal opportunity, including the provisions of the Governor's Code of Fair Employment Practices, COMAR 01.01.1995.19B.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.15 - Annual Report

Current through Register Vol. 51, No. 14, July 12, 2024
The Department shall submit by June 30 of each year an annual report to the Governor and Board of Public Works describing the Program's achievements in the immediately preceding year.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.14 - Maryland Export Credit Program › Section 24.05.14.16 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Director, with the approval of the Secretary, may waive or vary particular provisions of these regulations to the extent that the waiver is not inconsistent with the State Finance and Procurement Article, §
									10-305, Annotated Code of Maryland.
B. A waiver is subject to the Board's prior approval.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.15 - Special Fund for Preservation of Cultural Arts in Maryland › Section 24.05.15.01 - Purpose

Current through Register Vol. 51, No. 14, July 12, 2024
This chapter describes the policies, procedures, and authorizations for the Secretary of Business and Economic Development to administer the Special Fund for Preservation of Cultural Arts in Maryland.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.15 - Special Fund for Preservation of Cultural Arts in Maryland › Section 24.05.15.02 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Act" means Economic Development Article, §
										4-801, Annotated Code of Maryland.
(2) "Applicant" means a cultural arts organization applying for a grant from the Fund to strengthen the organizational capacity and financial stability of the cultural arts organization.
(3) "Cultural arts organization" means a nonprofit arts organization or arts program whose purpose is producing or presenting the arts through public programs or services.
(4) "Department" means the Department of Business and Economic Development.
(5) "Fund" means the Special Fund for Preservation of Cultural Arts in Maryland.
(6) "Grant" means a grant made by the Secretary under the provisions of the Act and this chapter.
(7) "Secretary" means the Secretary of Business and Economic Development.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.15 - Special Fund for Preservation of Cultural Arts in Maryland › Section 24.05.15.03 - The Fund

Current through Register Vol. 51, No. 14, July 12, 2024
A. The Fund shall be used to provide supplemental grants to cultural arts organizations in the State that qualify for general operating support from the Maryland State Arts Council, to strengthen the organizational capacity and financial stability of the cultural arts organizations.
B. A grant from the Fund is supplemental to and is not intended to take the place of funding that otherwise would be appropriated for qualifying organizations.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.15 - Special Fund for Preservation of Cultural Arts in Maryland › Section 24.05.15.04 - Eligible Applicants

Current through Register Vol. 51, No. 14, July 12, 2024
A. An applicant may apply for a grant under the Act as set forth in this regulation.
B. The applicant shall:
(1) Have received a general operating support grant from the Maryland State Arts Council in the fiscal year in which they are applying;
(2) Be in compliance with applicable reporting requirements of the Maryland State Arts Council; and
(3) Have an operating budget of at least $25,000.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.15 - Special Fund for Preservation of Cultural Arts in Maryland › Section 24.05.15.05 - Applications and Application Review

Current through Register Vol. 51, No. 14, July 12, 2024
A. Grant Application.
(1) A grant application shall be made on a standard form prescribed by the Department.
(2) Each application shall include:
(a) A description of the applicant's mission statement and goals;
(b) Needs assessment;
(c) A proposed plan of activities and budget for proposed activities;
(d) A detailed explanation of how the cultural arts organization will use a grant to strengthen the organizational capacity and financial stability of the cultural arts organization;
(e) Expected outcomes and evaluation methods; and
(f) Any other information the Secretary requires related to strengthening organizational capacity and financial stability of the cultural arts organization.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.15 - Special Fund for Preservation of Cultural Arts in Maryland › Section 24.05.15.06 - Grant Agreement

Current through Register Vol. 51, No. 14, July 12, 2024
The Department shall prepare and provide the cultural arts organization with a copy of the grant agreement which shall contain the provisions the Department determines are necessary to reflect the terms of the grant.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.15 - Special Fund for Preservation of Cultural Arts in Maryland › Section 24.05.15.07 - Drug-Free and Alcohol-Free Workplace

Current through Register Vol. 51, No. 14, July 12, 2024
The applicant shall:
A. Comply with the State's policy concerning drug-free and alcohol-free workplaces, as set forth in COMAR 01.01.1989.18B; and
B. Make a good-faith effort to eliminate illegal drug use and alcohol and drug abuse from places at which work is performed in accordance with the terms of the Department's financial assistance.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.15 - Special Fund for Preservation of Cultural Arts in Maryland › Section 24.05.15.08 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary may waive or vary particular provisions of this chapter to the extent that a waiver is not inconsistent with the Act.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.17 - Challenge Investment Program › Section 24.05.17.01 - Applicability

Current through Register Vol. 51, No. 14, July 12, 2024
Regulations .01-.05 and .07-.11 under COMAR 24.05.16 apply.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.17 - Challenge Investment Program › Section 24.05.17.02 - Equity Investment Terms

Current through Register Vol. 51, No. 14, July 12, 2024
A. The proceeds of the equity investment may be used for the purposes approved by the Director, which include, but are not limited to:
(1) Working capital;
(2) Salaries;
(3) Marketing materials;
(4) Acquisition of inventory, equipment, or real property;
(5) Construction;
(6) Renovation;
(7) Leasehold improvements; or
(8) Research and development.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.01 - Purpose

Current through Register Vol. 51, No. 14, July 12, 2024
These regulations describe the policies, procedures, and authorizations for making:
A. Loans to individuals and business entities in the State to enable them to modernize manufacturing operations, develop commercial applications for technology, or explore and enter new markets; and
B. Grants to local or regional Maryland governmental or nonprofit revolving loan funds.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.02 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Act" means Economic Development Article, Title 5, Subtitle 2, Annotated Code of Maryland.
(2) "Applicant" means a business entity seeking a loan from the Department.
(3) "Business entity" means an individual, partnership, corporation, limited liability company, or other form of entity doing business in Maryland.
(4) "Defense contractor" means a business entity that has over the 5 years before the date of its application for a loan derived a substantial amount of revenue from defense contracts.
(5) "Department" means the Department of Business and Economic Development.
(6) "Economic Development Administration (EDA)" means the Economic Development Administration of the U. S. Department of Commerce.
(7) "Fund" means the Maryland Economic Adjustment Loan Fund, which is administered by the Department.
(8) "Loan" means a loan made from the Fund by the Department under the Program.
(9) "Maryland Economic Adjustment Financing Committee" means the Committee described in Economic Development Article, §
										5-202, Annotated Code of Maryland.
(10) "Program" means the Maryland Economic Adjustment Program, as authorized by the Act.
(11) "Restricted funds" means EDA funds and required matching funds from State or other sources.
(12) "Secretary" means the Secretary of Business and Economic Development, or the Secretary's designee.
(13) Working Capital.
(a) "Working capital" means funds to be used for current operations of a business.
(b) "Working capital" includes funds for supplies, materials, labor, equipment, rent, software, marketing, insurance, and fees for professional services.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.03 - Eligible Applicants

Current through Register Vol. 51, No. 14, July 12, 2024
To qualify for a loan, an applicant shall:
A. Be a new or existing business entity in good standing and qualified to do business in Maryland;
B. Have the legal capacity and all necessary legal authorization to incur the obligations of the loan;
C. Demonstrate creditworthiness and repayment capability acceptable to the Department;
D. Meet any additional requirements imposed by any source of the funds to be loaned; and
E. In the reasonable determination of the Department, be unable to obtain the financing necessary for the activities described in the applicant's strategic business plan on affordable terms through normal lending channels.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.04 - Priority

Current through Register Vol. 51, No. 14, July 12, 2024
In making loans, the Department shall give priority to:
A. Defense contractors; and
B. Companies started by former defense workers who lost their jobs with defense contractors or agencies.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.05 - Use of Loan Proceeds

Current through Register Vol. 51, No. 14, July 12, 2024
A. Loan proceeds may be used for working capital, equipment, furnishings, fixtures, and the construction, rehabilitation, or purchase of real property to:
(1) Modernize manufacturing operations;
(2) Develop commercial applications for technology; or
(3) Enter into and compete in new economic markets.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.06 - Loan Terms and Requirements

Current through Register Vol. 51, No. 14, July 12, 2024
A. Loans shall meet the following requirements in §§B-F of this regulation.
B. Interest Rate. The minimum interest rate to be paid on loans shall be a fixed rate of 4 percent per annum.
C. Security. The Department may require that a loan be secured by:
(1) Liens and security interests in real and personal property;
(2) Personal guarantees;
(3) Any other collateral required by the Department; or
(4) A combination of the items in this section.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.07 - Additional Requirements for Loans Made with Restricted Funds

Current through Register Vol. 51, No. 14, July 12, 2024
A. Federal Requirements. When loans are made from EDA funds made available under Title IX of the Public Works and Economic Development Act of 1965, P. L. 89-136, as amended (42 U.S.C. §
										3121 et seq.), or matching funds, the requirements set forth in the EDA regulations, including those set forth in this regulation, also apply.
B. Loan Amount. The maximum loan amount may not exceed the limit set by the regulations of the Economic Development Administration.
C. Eligible Areas.
(1) Restricted funds shall be used to make loans only to applicants located in those areas of the State designated as eligible areas for EDA Title IX defense economic adjustment activities.
(2) When restricted funds are loaned, the loan documents shall include a provision to call the loans if the economic activity financed is moved outside the eligible lending area.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.08 - Application and Processing Procedures

Current through Register Vol. 51, No. 14, July 12, 2024
A. Loan Application.
(1) Loan applications shall be made on standard forms required by the Department.
(2) Each application shall include:
(a) A detailed strategic business plan for achieving a goal of technology commercialization or manufacturing modernization for long-term growth;
(b) The total amount of funds required for the activities described in the strategic business plan;
(c) The amount and type of funds available to the applicant without financial assistance from the Department;
(d) The amount of financial assistance sought from the Department and a description of the applicant's proposed use of proceeds;
(e) Information concerning where in the State the activities to be financed with the defense adjustment loan will take place and what economic and environmental impact the activities are expected to have on that area;
(f) Evidence of the inability of the applicant to obtain the financing necessary for the activities described in the strategic business plan on affordable terms through normal lending channels;
(g) Information that relates to the financial status of the applicant, including, if applicable:
(i) A current balance sheet,
(ii) A recent profit and loss statement,
(iii) Credit references, including a recent credit report, and
(iv) Income tax returns;
(h) Information that relates to potential security for the loan; and
(i) Any other relevant information the Department requests.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.09 - Grants

Current through Register Vol. 51, No. 14, July 12, 2024
The Department may make a grant from the Fund to a local or regional Maryland governmental or nonprofit revolving loan fund. In making the grant, the Department shall consider the:
A. Purposes of the Fund; and
B. Issues set forth in the Department's strategic economic development plan.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.10 - Drug-Free and Alcohol-Free Workplace

Current through Register Vol. 51, No. 14, July 12, 2024
The applicant shall comply with the State's policy concerning drug-free and alcohol-free workplaces, as set forth in COMAR 01.01.1989.18B, and shall make a good-faith effort to eliminate illegal drug use and alcohol and drug abuse from places where work is performed in accordance with a loan.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.11 - False Statements

Current through Register Vol. 51, No. 14, July 12, 2024
A. A person may not knowingly make or cause any false statement or report to be made:
(1) In any application or document furnished to the Department;
(2) For the purpose of influencing the action of the Department:
(a) On an application for financial assistance, or
(b) Affecting financial assistance whether or not assistance may have already been extended.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.18 - Maryland Economic Adjustment Fund › Section 24.05.18.12 - Waiver

Current through Register Vol. 51, No. 14, July 12, 2024
The Secretary, or the Secretary's designee, may waive or vary particular provisions of these regulations to the extent that the waiver is not inconsistent with the Act if:
A. Conformance to the requirement of any federal, State, or local program in connection with a loan necessitates waiver or variance of a regulation; or
B. In the determination of the Secretary, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.19 - Wineries and Vineyards Capital Expenses Tax Credit › Section 24.05.19.01 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Comptroller" means the Maryland Comptroller of the Treasury, or the Comptroller's designee.
(2) "Credit" means the qualified capital expenses tax credit described in Regulation .02 of this chapter.
(3) "Credit year" means the year for which the credit is being claimed.
(4) "Department" means the Department of Business and Economic Development.
(5) "Qualified capital expenses" means all the expenditures made by the taxpayer for the purchase and installation of equipment or agricultural materials for use in the production of agricultural products for winemaking at a vineyard or in a winery, including but not limited to:
(a) Barrels;
(b) Bins;
(c) Bottling equipment;
(d) Canopy management machines;
(e) Capsuling equipment;
(f) Chemicals;
(g) Corkers;
(h) Crushers;
(i) Destemmers;
(j) Fermenters or other recognized fermentation devices;
(k) Fertilizer and soil amendments;
(l) Filters;
(m) Fruit harvesters;
(n) Fruit plants;
(o) Hoses;
(p) Irrigation equipment;
(q) Labeling equipment;
(r) Lugs;
(s) Mowers;
(t) Poles;
(u) Posts;
(v) Presses;
(w) Pruning equipment;
(v) Pumps;
(x) Refractometers;
(y) Refrigeration equipment;
(z) Seeders;
(aa) Soil;
(bb) Small tools;
(cc) Tanks;
(dd) Tractors;
(ee) Vats;
(ff) Weeding and spraying equipment;
(gg) Wine tanks;
(hh) Wire; and
(ii) Any other items as approved by the Department.
(6) "Secretary" means the Secretary of Business and Economic Development, or the Secretary's designee.
(7) "State" means the State of Maryland.
(8) "Taxpayer" means an individual or corporation.
(9) "Vineyard" means agricultural lands located in the State consisting of at least 1 contiguous acre dedicated to the growing of grapes that are used or are intended to be used in the production of wine by a winery and any plants or other improvements located thereon.
(10) "Winery" means an establishment licensed by the Comptroller as either a Class 3 winery or a Class 4 winery pursuant to Article 2B, §§2-204 and 2-205, Annotated Code of Maryland.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.19 - Wineries and Vineyards Capital Expenses Tax Credit › Section 24.05.19.02 - Calculation of Tax Credit

Current through Register Vol. 51, No. 14, July 12, 2024
A. A tax credit is allowed for a taxable year beginning after December 31, 2012 but before January 1, 2018.
B. A taxpayer may claim credits against the State income tax in an amount equal to 25 percent of the qualified capital expenses made in connection with:
(1) The establishment of new wineries or vineyards; or
(2) The capital improvements to existing wineries or vineyards.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.19 - Wineries and Vineyards Capital Expenses Tax Credit › Section 24.05.19.03 - Application and Approval of Credit

Current through Register Vol. 51, No. 14, July 12, 2024
A. To claim eligibility for a tax credit and to be certified as eligible for a tax credit, a taxpayer shall submit to the Department, by not later than September 15 of the calendar year following the end of the taxable year in which the costs were incurred an application on a form approved by the Department.
B. Each application shall include the following:
(1) The legal name of the taxpayer;
(2) The street address of the principal place of business of the taxpayer, the taxpayer's mailing address, the taxpayer's email address, and the taxpayer's telephone number;
(3) The name, business mailing address, telephone number, and email address of an individual with authority to act on behalf of the taxpayer;
(4) The federal employer identification number of the taxpayer or, if the taxpayer is an individual or sole proprietorship, the federal taxpayer identification number of the individual or sole proprietor;
(5) An account, which may be in the form of a spreadsheet, showing in detail the eligible capital costs incurred by the taxpayer; and
(6) Any other information requested by the Department.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.19 - Wineries and Vineyards Capital Expenses Tax Credit › Section 24.05.19.04 - Maximum Annual Credits

Current through Register Vol. 51, No. 14, July 12, 2024
A. The total amount of credits approved by the Department under Regulation .03C of this chapter may not exceed $500,000 for any calendar year.
B. If the total amount of credits applied for by all business entities under Regulation .03C of this chapter exceeds the maximum specified under §A of this regulation, the Department shall approve a credit under Regulation .03C of this chapter for each taxpayer in an amount equal to the product of multiplying the credit applied for by the taxpayer times a fraction:
(1) The numerator of which is the maximum specified under §A of this regulation; and
(2) The denominator of which is the total of all credits applied for by all business entities under Regulation .03C of this chapter in the calendar year.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.19 - Wineries and Vineyards Capital Expenses Tax Credit › Section 24.05.19.05 - Certification of Credit

Current through Register Vol. 51, No. 14, July 12, 2024
The Department shall certify to the taxpayer the amount of the allowed tax credits approved by the Department for the taxpayer. The Department shall issue the certification by December 15 of the calendar year following the end of the taxable year in which the costs were incurred.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.19 - Wineries and Vineyards Capital Expenses Tax Credit › Section 24.05.19.06 - Claiming the Credit

Current through Register Vol. 51, No. 14, July 12, 2024
To claim the credits approved by the Department, a taxpayer shall:
A. File with the Comptroller an amended income tax return for the taxable year in which the costs were incurred; and
B. Attach a copy of the Department's certification of the approved credit amount to the amended income tax return.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.19 - Wineries and Vineyards Capital Expenses Tax Credit › Section 24.05.19.07 - Carryover of Tax Credits

Current through Register Vol. 51, No. 14, July 12, 2024
A. If the credit allowed pursuant to this chapter in any taxable year exceeds the total tax otherwise payable by the taxpayer for that taxable year, the taxpayer may apply the excess as a credit for succeeding taxable years until:
(1) The full amount of the excess is used; or
(2) The expiration of the 15th taxable year after the taxable year in which the qualified capital expenses were paid or incurred.
Code of Maryland Regulations › Title 24 - DEPARTMENT OF COMMERCE › Subtitle 05 - ECONOMIC DEVELOPMENT › Chapter 24.05.19 - Wineries and Vineyards Capital Expenses Tax Credit › Section 24.05.19.08 - Mergers and Acquisitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In determining the carryover of unused credits and the effect of a merger or acquisition, federal law shall be applied to the business entities as if they were separate business entities. Any provisions under federal law that would allow separate corporations that are merged or acquired to carry forward unused credits on the surviving corporation's returns shall apply to the carryover of this credit for State purposes.
B. Unused Credits.
(1) In a transaction involving an asset purchase, unused credits:
(a) Do not transfer from the taxpayer to the purchaser; and
(b) Shall remain with the taxpayer to whom or to which the certificate was issued.