WILLIAM DONALD SCHAEFER, Governor Ch. 822
SUBTITLE 6 9. MARYLAND ENTERPRISE INCENTIVE DEPOSIT FUND
5-601 13-901.

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

(B)  "DEPARTMENT" MEANS THE DEPARTMENT OF ECONOMIC AND
EMPLOYMENT DEVELOPMENT.

(C)  "ELIGIBLE BUSINESS" MEANS A FOR-PROFIT BUSINESS THAT:

(1)  IS LOCATED IN A COUNTY OR BALTIMORE CITY THAT HAS
AN UNEMPLOYMENT RATE OF 150 130 PERCENT OF THE UNEMPLOYMENT RATE
FOR THE STATE DURING THE MOST RECENT 6-MONTH PERIOD 4 CONSECUTIVE
QUARTERS FOR WHICH DATA IS AVAILABLE AND HAS A POPULATION UNDER
200,000;

(2)   IS IN GOOD STANDING WITH EACH STATE REGULATORY
AUTHORITY WITH JURISDICTION OVER THE BUSINESS, INCLUDING THE
WORKERS' COMPENSATION COMMISSION, THE DEPARTMENT OF ASSESSMENTS
AND TAXATION, AND THE DEPARTMENT OF ECONOMIC AND EMPLOYMENT
DEVELOPMENT; AND

(3)  WILL CREATE OR RETAIN AT LEAST 1 JOB BY OBTAINING
FIXED ASSET FINANCING UNDER THE PROVISIONS OF THIS SUBTITLE
EMPLOYS 500 OR FEWER EMPLOYEES.

(D)(1) "FIXED ASSET FINANCING" MEANS THE USE OF A
COMMERCIAL LOAN TO FINANCE:

(1) THE ACQUISITION OR CONSTRUCTION OF A BUILDING, IN
WHOLE OR IN PART; OR

(2) THE ACQUISITION OF:

(I) REAL ESTATE;

(II) MACHINERY OR EQUIPMENT; OR

(III) FURNISHINGS AND FIXTURES.

(I) THE ACQUISITION OR CONSTRUCTION OF A
BUILDING, IN WHOLE OR IN PART;

(II) THE ACQUISITION OF THE LAND UPON WHICH THE
BUILDING IS LOCATED OR IS TO BE LOCATED IF THE LAND IS NOT
ALREADY OWNED BY THE APPLICANT; OR

(III) THE ACQUISITION OF MACHINERY OR
EQUIPMENT.

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