824

LAWS OF MARYLAND

Ch. 255

The governing body of any county or municipality may adopt a
resolution creating a special fund described in Section
266JJ-6(3)(ii) of this subheading with respect to a development
district, even though no bonds authorized by this Act have been
issued by such county or municipality with respect to that
development district or are then outstanding. The taxes
allocated to such special fund by Section 266JJ-6(3)(ii) of this
subheading shall thereafter be paid over to such special fund, as
long as such [ordinance or] resolution remains in effect. Any
taxes that could have been allocated to the special fund
authorized by Section 266JJ-6(3)(ii) of this subheading and that
have actually been set aside for that purpose, after July 1,
1980, by a county or municipality in its budget may be placed in
the special fund created after that date under this section or
under § 266JJ-6(3)(ii) OF THIS SUBHEADING.

266KK-4.

(b) Any business entity moving into or locating within an
enterprise zone on or after the date on which the enterprise zone
is designated pursuant to § 266KK-2 of this subtitle may benefit
from the incentives and initiatives set forth in this section,
if:

(1)  The business entity meets the requirements and
conditions of the Code section applicable to each incentive or
initiative;

(2)  The business entity is certified by the
respective political subdivision that it is in compliance with
the standards submitted by the subdivision under § 266KK-2(d)(4)
OF THIS SUBHEADING; and

(3)  (i) The business entity creates new or additional
jobs or makes a capital investment in order to qualify for the
special property tax credit under Article 81, § 12G-11 and the
income tax credits under Article 81, § 291A OF THE CODE; and

(ii) In considering whether the business entity
qualifies for loans and grants under the Maryland Industrial Land
Act and the Maryland Industrial and Commercial Redevelopment Fund
and for insurance under the Enterprise Zone Venture Capital
Guarantee Fund, the Secretary determines that the business entity
will create new or additional jobs.

266LL-4.

(a) All receipts designated for the Day Care Facilities
Loan Guarantee Fund shall be placed in the Fund and administered
by the Department including:

(1)  Premiums for guaranteeing loans; and

(2)   Income from investments that the State Treasurer,
on instruction of the Department [makes] MAKES; for the
Department under this subheading.