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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/

Read this complete Maryland Code, Economic Development § 5-313 on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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