Ch. 540

LAWS OF MARYLAND

significant impact on the future health of Maryland's economy or
that of one or more of its regions; and

WHEREAS, The General Assembly further declares and finds
that, in order to meet or better offers from competing states,
such situations frequently require expeditious action and offers
of State financial assistance that are beyond the capacity of
existing Maryland programs or local programs; and

WHEREAS, The General Assembly intends that the Economic
Development Opportunities Program Fund be used to assist State
and local economic development agencies in the establishment,
retention, expansion, and attraction of private sector
enterprises, institutions, and federal research and development
institutes that will contribute to the economic vitality of the
State or one or more of its regions; and

WHEREAS, The General Assembly believes that it is important
for the local governments to participate in carrying out the
purposes of this Act and encourages their involvement; now,
therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - State Finance and Procurement

7-309.

(a)  There is a State Reserve Fund.

(b)  The State Reserve Fund is comprised of:

(1)  the Dedicated Purpose Account; [and]

(2)  the Revenue Stabilization Account; AND

(3)  THE ECONOMIC DEVELOPMENT OPPORTUNITIES PROGRAM
FUND.

7-314.

(A) IN THIS SECTION "FUND" MEANS THE ECONOMIC DEVELOPMENT
OPPORTUNITIES PROGRAM FUND.

(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(2) "FUND" MEANS THE ECONOMIC DEVELOPMENT
OPPORTUNITIES PROGRAM FUND.

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