Ch. 11

LAWS OF MARYLAND

(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.

DRAFTER'S NOTE: This corrects an outdated cross-reference
in Article 41, § 12-304(b).

Former subheading "Urban Enterprise Zones" became
Title 12, Subtitle 3 of this article when the sections
of Article 41 were renumbered pursuant to Ch. 5 of the
Acts of 1986.

The outdated cross-references were noted by the Michie
Company.

(d) Except as provided in Article 81, § 291A of the Code
and § 9-103 of the Tax - Property Article, the incentives and
initiatives set forth in this section shall be available for a
period of 10 years following the date on which the area is
designated an enterprise zone pursuant to § 12-302 OF THIS
SUBTITLE. No law hereinafter enacted that eliminates or reduces
the benefits available to business entities under this section
shall be applicable to any business entity located in an
enterprise zone prior to the effective date of such law.

DRAFTER'S NOTE: This corrects a stylistic error in a
cross-reference in Article 41, § 12-304(d).

The stylistic error occurred in Ch. 298 of the Acts of
1982.

The stylistic error was noted by the Michie Company.

12-406.

(b) Any political subdivision may apply to the Secretary
for a loan to finance project costs of a shell building project.
The application shall describe the project in the manner and
detail required by the Secretary and shall include the
information set forth in § 12-404(a) of this [subheading]
SUBTITLE as it relates to the shell building project, and a
complete breakdown of the anticipated cost of the project.

DRAFTER'S NOTE: This corrects an outdated cross-reference
in Article 41, § 12-406(b).

Former subheading 42, "Maryland Industrial Land Act",
became Title 12, Subtitle 4 when the sections of
Article 41 were renumbered pursuant to Ch. 5 of the
Acts of 1986.

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