Maryland Code, Economic Development § 5-2003

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

(a) Subject to the limitations of this section, the Department shall provide a grant to an individual or a corporation equal to 25% of the qualified capital expenses incurred in connection with:

(1) the establishment of a new winery or vineyard; or

(2) capital improvements made to an existing winery or vineyard.

(b)(1) An individual or a corporation who paid or incurred qualified capital expenses during the immediately preceding calendar year may submit an application to the Department for a grant authorized under this section.

(2)(i) For any fiscal year, the total amount of grants approved by the Department under this section may not exceed the total appropriation for the Program for that fiscal year.

(ii) If the total amount of grants applied for under this section exceeds the maximum specified under subparagraph (i) of this paragraph, the Department shall approve a grant for each applicant in an amount equal to the product of multiplying the amount applied for by the applicant times a fraction:

1. the numerator of which is the maximum specified under subparagraph (i) of this paragraph; and

2. the denominator of which is the total of all grants applied for by all applicants for that calendar year.

(3) The Department shall award the grants authorized under this section to each eligible applicant.

(c) For each fiscal year, the Governor shall include in the annual budget bill an appropriation of at least $1,000,000 to the Department to award grants under the Program.

(d) The Department shall adopt regulations to:

(1) implement the provisions of this section; and

(2) specify criteria and procedures for application for, approval of, and monitoring continuing eligibility for the grants authorized under this section.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 5-2003 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-5-2003/

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