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Maryland Code, Economic Development § 5-313

Current as of December 31, 2021 | Updated by FindLaw Staff

The Fund consists of:

(1) money appropriated in the State budget to the Fund;

(2) money made available to the Fund through federal programs or private contributions;

(3) repayments of principal and interest from loans made from the Fund;

(4) proceeds from the sale, disposition, lease, or rental of collateral related to financial assistance provided by the Department under this subtitle;

(5) application or other fees paid to the Fund to process requests for financial assistance;

(6) recovery of an investment made by the Department in a business, including an arrangement under which part of the investment is recovered through:

(i) a requirement that the Department receive a proportion of cash flow, commissions, royalties, or license fees;

(ii) the repurchase from the Department of any of its investment interest; or

(iii) the sale of an appreciated asset;

(7) repayments received from recipients of conditional grants from the Department;

(8) money collected under § 9-229 of the Tax--Property Article;

(9) repayments on or recoveries from financial assistance provided from the former:

(i) Brownfields Revitalization Incentive Fund;

(ii) Child Care Facilities Direct Loan Fund;

(iii) Child Care Special Loan Fund;

(iv) Maryland Industrial and Commercial Redevelopment Fund;

(v) Maryland Industrial Land Fund;

(vi) Maryland Seafood and Aquaculture Loan Fund; and

(vii) Smart Growth Economic Development Infrastructure Fund; and

(10) any other money made available to the Fund.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 5-313 - last updated December 31, 2021 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-5-313/

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