HARRY HUGHES, Governor

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(D)  ANNUAL FUNDING FOR THE CORPS WILL BE FROM:

(1)  APPROPRIATED FUNDS; OR

(2)  THE FOREST AND PARK RESERVE FUND.

(E)  THE DEPARTMENT SHALL USE ANY FEDERAL
APPROPRIATIONS THAT:

(1)  MAY BECOME AVAILABLE; AND

(2)  ARE DESIGNATED FOR STATE EMPLOYMENT PROGRAMS
IN THE FIELD OF NATURAL RESOURCES CONSERVATION.

(F)  THE DEPARTMENT SHALL ADOPT RULES AND REGULATIONS
TO CARRY OUT THE PROVISIONS OF THIS SECTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.

Approved May 20, 1982.

CHAPTER 298

(Senate Bill 811)

AN ACT concerning

Enterprise Zones

FOR the purpose of establishing a procedure for the
designation of enterprise zones by the Secretary of
Economic and Community Development to promote private
capital investment and increase private employment
opportunities in certain areas of the State;
establishing the requirements that an area must meet in
order to be designated an enterprise zone and the
incentives and initiatives that may be available to
businesses located in an enterprise zone; granting a
special real property tax credit and income tax credits
to businesses located in an enterprise zone;
establishing special limits for loans under the
Maryland Industrial Land Act and grants and loans from
the Maryland Industrial and Commercial Redevelopment
Fund, establishing an Enterprise Zone Venture Capital
Loan Guarantee Fund to be managed and supervised by the
Secretary of Economic and Community Development to
assist in insuring loans to projects within enterprise
zones, setting forth the powers of that Fund,
specifying certain requirements which need to be met in