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Statutes Text

Article - Economic Development




§5–313.

    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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