Maryland Code, Economic Development § 5-337

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

(a) Notwithstanding any other provision of law, the Department may provide to a person, including a responsible person, a low-interest loan or grant to conduct the environmental site assessment of a potential brownfields site that is required to participate in the Voluntary Cleanup Program under Title 7, Subtitle 5 of the Environment Article, if the person:

(1) has not already applied to participate in the Program;

(2) is otherwise eligible to participate in the Program; and

(3) meets the eligibility requirements that the Department sets.

(b) The information contained in an environmental site assessment is:

(1) the property of the State, if the assessment is financed wholly or partly by:

(i) a grant from the Department; or

(ii) a loan that is in payment default; or

(2) the property of the person who contracted for the assessment, if the assessment is financed by:

(i) a loan from the Department; or

(ii) a grant that is repaid.

(c) Eligibility for a loan or grant for an environmental site assessment under this section does not constitute eligibility for:

(1) any other financial assistance under this subtitle; or

(2) the tax credits provided under § 9-229 of the Tax--Property Article.

(d) The recipient of a grant under this section shall repay the grant if, within 12 months after receiving the grant, the recipient does not receive approval from the Department of the Environment to:

(1) participate in the Voluntary Cleanup Program; or

(2) implement a corrective action plan under Title 4 of the Environment Article.

(e) A low-interest loan provided under this section shall convert to a market rate loan if, within 12 months after receiving the loan, the recipient does not receive approval from the Department of the Environment to:

(1) participate in the Voluntary Cleanup Program; or

(2) implement a corrective action plan under Title 4 of the Environment Article.

(f) The Department may establish procedures and eligibility requirements for the approval of requests for loans and grants under this section.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 5-337 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-5-337/

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