WILLIAM DONALD SCHAEFER, Governor                            Ch. 356

(II)     SHALL BE CONSISTENT WITH THE GENERAL PLAN, THE
PREVALENT ZONING MAP AND REGULATIONS, AND THE SUBDIVISION AND LAND
DEVELOPMENT REGULATIONS FOR THE COUNTY;

(III)    SHALL FOSTER A STRONG, STABLE ECONOMY IN THE COUNTY
BY SUPPORTING EXISTING BUSINESSES AND ATTRACTING TARGETED NEW
BUSINESS;

(IV)    SHALL PROMOTE THE QUALITY OF LIFE OF THE COUNTY
RESIDENTS; AND

(V)     MAY NOT INCLUDE OR ENCOURAGE THE PROMOTION OF
SPECULATIVE LAND TRANSACTIONS BY THE AUTHORITY.

(B)      (1) ON OR BEFORE MARCH 1 OF EACH YEAR AND IN A FORM APPROVED
BY THE COUNTY, THE AUTHORITY SHALL SUBMIT TO THE COUNTY EXECUTIVE AN
OPERATING BUDGET REQUEST TO IMPLEMENT THE APPROVED ECONOMIC
DEVELOPMENT PLAN.

(2)      THE OPERATING BUDGET REQUEST SHALL INCLUDE FUNDING
SOLELY FOR IMPLEMENTING THE ANNUAL WORK PROGRAM PORTION OF THE
APPROVED ECONOMIC DEVELOPMENT PLAN.

(3)      THE OPERATING BUDGET REQUEST SHALL NOT INCLUDE ANY
REQUESTED FUNDING FOR SPECULATIVE LAND TRANSACTIONS OR FOR ANY LOAN
PROGRAM FUNDED SOLELY BY THE COUNTY.

(C)     THE PROPOSED BUDGET OF THE COUNTY EXECUTIVE FOR THE NEXT
FISCAL YEAR SHALL INCLUDE AN APPROPRIATION TO IMPLEMENT THE ANNUAL
WORK PROGRAM PORTION OF THE APPROVED ECONOMIC DEVELOPMENT PLAN.

(D)     IN ACTING ON THE PROPOSED BUDGET OF THE COUNTY EXECUTIVE FOR
THE NEXT FISCAL YEAR, THE COUNTY COUNCIL SHALL, CONSISTENT WITH ITS
CHARTER POWERS IN APPROVING THE BUDGET, REVIEW AND APPROVE AN
APPROPRIATION OF FUNDS TO IMPLEMENT THE ANNUAL WORK PROGRAM PORTION
OF THE APPROVED ECONOMIC DEVELOPMENT PLAN.

(E)      NOTWITHSTANDING THE PROVISIONS OF THIS SECTION OR ANY OTHER
PROVISION OF THIS SUBTITLE, THE COUNTY MAY REDUCE AN APPROPRIATION TO
IMPLEMENT THE ANNUAL WORK PROGRAM PORTION OF THE APPROVED ECONOMIC
DEVELOPMENT PLAN DURING A FISCAL YEAR IF:

(1)      REVENUES FOR THE CURRENT FISCAL YEAR ARE ANTICIPATED TO
BE SUBSTANTIALLY BELOW THE REVENUE INCLUDED IN THE COUNTY'S CURRENT
FISCAL YEAR BUDGET; OR

(2)      THE COUNTY EXPERIENCES ANY OTHER FINANCIAL HARDSHIP OR
ECONOMIC CONDITION THAT REQUIRES THE COUNTY TO REDUCE EXPENDITURES
AUTHORIZED IN ITS CURRENT FISCAL YEAR BUDGET.

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