690

LAWS OF MARYLAND

Ch. 33

(C) FUND.

"FUND" MEANS THE SMALL BUSINESS DEVELOPMENT FINANCING

FUND.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from the definition
appearing in the parenthetical clause of the
first sentence of Art. 41, § 266HH-8(a)(1).

(D)       SECRETARY.

"SECRETARY" MEANS THE SECRETARY OF ECONOMIC AND
COMMUNITY DEVELOPMENT.

REVISOR'S NOTE: This subsection is new language added
to avoid repetition in this subtitle of the full
title of the Secretary.

(E)       WORKING CAPITAL.

"WORKING CAPITAL" MEANS ITEMS OF SUPPLIES, MATERIALS,
LABOR, OR EQUIPMENT THAT BECOME PART OF THE PRODUCT OR
SERVICE TO BE DELIVERED UNDER A GOVERNMENT CONTRACT.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from Art. 41, §
266HH-2(e).

REVISOR'S NOTE TO SECTION: The definitions of "eligible
applicant", "social or economic disadvantaged"
{sic}, and "good character", in present §
266HH—2(b), (c) , and (d), include numerous
substantive requirements for qualifying to
receive financial assistance. These requirements
now appear in § 13—231 of this subtitle.

13-202. FINDINGS AND STATEMENT OF PURPOSE,

(A) FINDINGS.

THE GENERAL ASSEMBLY FINDS THAT:

(1)   THE INABILITY OF SOCIALLY    OR ECONOMICALLY
DISADVANTAGED BUSINESSMEN TO OBTAIN WORKING CAPITAL IS A
MAJOR LIMITATION ON THEIR OPPORTUNITY TO WIN AND PERFORM
GOVERNMENT CONTRACTS;

(2)   IN MANY INSTANCES ON RECORD, A SOCIALLY OR
ECONOMICALLY DISADVANTAGED BUSINESSMAN HAS BEEN AWARDED A
GOVERNMENT CONTRACT, BUT HAS LACKED THE WORKING CAPITAL TO
POST A PERFORMANCE BOND, BUY SUPPLIES NEEDED TO BEGIN THE
WORK, OR PAY EMPLOYEES AND, THEREFORE, HAS BEEN UNABLE TO
ACCEPT THE CONTRACT;

(3)   AN EXCESSIVE NUMBER OF HIGH RISK, PROBLEM,