§10–4C–04.    IN EFFECT

    // EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //

    (a)    The Corporation shall adopt standards to award financial assistance under this subtitle.

    (b)    The Corporation may award financial assistance to:

        (1)    a local government;

        (2)    an agency, an instrumentality, or a nonprofit corporation that the local government designates; or

        (3)    a nonprofit entity operating or seeking to operate a makerspace in the State.

    (c)    To the extent practicable, the Corporation shall award financial assistance in a manner that reflects geographic diversity.

    (d)    A recipient of financial assistance under this section:

        (1)    shall provide matching funds or in–kind contributions for the project at least equal to the amount of financial assistance awarded; and

        (2)    may not utilize the financial assistance awarded for the operating costs of the makerspace after the first 3 years of operation.

    (e)    Unless two–thirds of the membership of the Board approves, the Corporation may not award financial assistance within a single county under this section that exceeds a total of $250,000 in a single fiscal year.