Maryland Code, Economic Development § 10-4C-04

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) The Corporation shall adopt standards to award financial assistance under this subtitle.

(b) The Corporation may award financial assistance to:

(1) a local government;

(2) an agency, an instrumentality, or a nonprofit corporation that the local government designates; or

(3) a nonprofit entity operating or seeking to operate a makerspace in the State.

(c) To the extent practicable, the Corporation shall award financial assistance in a manner that reflects geographic diversity.

(d) A recipient of financial assistance under this section:

(1) shall provide matching funds or in-kind contributions for the project at least equal to the amount of financial assistance awarded; and

(2) may not utilize the financial assistance awarded for the operating costs of the makerspace after the first 3 years of operation.

(e) Unless two-thirds of the membership of the Board approves, the Corporation may not award financial assistance within a single county under this section that exceeds a total of $250,000 in a single fiscal year.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 10-4C-04 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-10-4c-04/

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