Ch. 689

1994 LAWS OF MARYLAND

(1)      DEFENSE CONTRACTORS; AND                                                                   

(2)      COMPANIES STARTED BY FORMER DEFENSE WORKERS WHO LOST,
THEIR JOBS WITH DEFENSE CONTRACTORS; AND

(3)      COMPANIES WITH THE POTENTIAL TO GENERATE NEAR TERM JOB
GROWTH.

3-606.

ANNUALLY, THE STATE TREASURER SHALL REPORT TO THE DEPARTMENT AS
TO:                                                                                                                         

(1)      THE STATUS OF THE MONEY INVESTED UNDER THIS SUBTITLE;

(2)      THE MARKET VALUE OF THE ASSETS IN THE DEFENSE ADJUSTMENT
LOAN FUND AS OF THE DATE OF THE REPORT; AND                                   

(3)      THE INTEREST RECEIVED FROM INVESTMENTS FOR THE DEFENSE
ADJUSTMENT LOAN FUND DURING THE PERIOD COVERED BY THE REPORT.               

3-607.

SUBJECT TO THE RESTRICTIONS OF THIS SUBTITLE, THE DEPARTMENT, ON
APPLICATION, MAY PROVIDE A LOAN FROM THE DEFENSE ADJUSTMENT LOAN
FUND TO AN APPLICANT ONLY IF:

(1)      THE APPLICANT MEETS THE QUALIFICATIONS REQUIRED BY THIS
SUBTITLE; AND

(2)      THE APPLICANT MEETS ANY ADDITIONAL REQUIREMENTS IMPOSED
BY THE SOURCE OF THE FUNDS TO BE LOANED.

3-608.

(A)     TO APPLY FOR FINANCIAL ASSISTANCE, AN APPLICANT SHALL SUBMIT TO
THE DEPARTMENT AN APPLICATION ON THE FORM THAT THE DEPARTMENT
REQUIRES.

(B)     THE APPLICATION SHALL INCLUDE:

(1)      A DETAILED STRATEGIC BUSINESS PLAN FOR ACHIEVING A GOAL
OF TECHNOLOGY COMMERCIALIZATION OR MANUFACTURING MODERNIZATION
FOR LONG TERM GROWTH;

(2)      THE TOTAL AMOUNT OF FUNDS REQUIRED FOR THE ACTIVITIES
DESCRIBED IN THE STRATEGIC BUSINESS PLAN;

(3)      THE FUNDS AVAILABLE TO THE APPLICANT WITHOUT FINANCIAL
ASSISTANCE FROM THE DEPARTMENT;

(4)      THE AMOUNT OF FINANCIAL ASSISTANCE SOUGHT FROM THE
DEPARTMENT;

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