S.B. 338

VETOES

(3)      ACQUISITION OF LAND AND IMPROVEMENTS;

(4)      SITE PREPARATION AND DEVELOPMENT INCLUDING DEMOLITION
AND REMOVAL;

(5)      CONSTRUCTION, RECONSTRUCTION, AND REHABILITATION;

(6)      ACQUISITION OF MACHINERY, EQUIPMENT, AND FURNISHINGS;

(7)      ESSENTIAL START-UP OPERATING COSTS WHICH CANNOT
OTHERWISE BE FINANCED, INCLUDING WORKING CAPITAL AND INITIAL
OCCUPANCY EXPENSES;

(8)      INITIAL OCCUPANCY EXPENSES;

(9)      (8) INDEMNITY AND SURETY BONDS AND PREMIUMS ON
INSURANCE; AND

(10) (9) OTHER NECESSARY FEES AND TEMPORARY RELOCATION
EXPENSES.

(D)     "FUND" MEANS THE NEIGHBORHOOD BUSINESS DEVELOPMENT FUND.

(E)     "LOCAL JURISDICTION" MEANS ANY A MUNICIPAL CORPORATION IN
MARYLAND SUBJECT TO THE PROVISIONS OF ARTICLE XI E OF THE MARYLAND
CONSTITUTION, THE MAYOR AND CITY COUNCIL OF BALTIMORE, AND ANY OF THE
23 COUNTIES IN MARYLAND OR COUNTY.

(F)      "NONPROFIT ORGANIZATION" MEANS A CORPORATION, FOUNDATION,
OR OTHER LEGAL ENTITY; THAT SPECIFIES IN ITS CHARTER OR BYLAWS THAT NO
PART OF THE NET EARNINGS OF WHICH INURES MAY INURE TO THE BENEFIT OF
ANY PRIVATE SHAREHOLDER OR INDIVIDUAL HOLDING ANY INTEREST IN SUCH
ENTITY.

(G)     "PROGRAM" MEANS THE NEIGHBORHOOD BUSINESS DEVELOPMENT
PROGRAM.

(H) "PROJECT" MEANS A NEIGHBORHOOD BUSINESS DEVELOPMENT PROJECT
WHICH RECEIVES FINANCIAL ASSISTANCE FROM THE NEIGHBORHOOD BUSINESS
DEVELOPMENT FUND.

(I) "SMALL BUSINESS" MEANS A BUSINESS THAT EMPLOYS A NUMBER OF
EMPLOYEES NO GREATER THAN A LIMIT SET FORTH IN REGULATIONS BY THE
DEPARTMENT WHICH SHALL NOT EXCEED THE STANDARDS SET BY THE FEDERAL
SMALL BUSINESS ADMINISTRATION.

(J) "SPONSOR" MEANS A SMALL BUSINESS ELIGIBLE TO RECEIVE FINANCIAL
ASSISTANCE UNDER THE PROGRAM, INCLUDING ANY PERSON, PARTNERSHIP, JOINT
VENTURE, CORPORATION, COOPERATIVE, LIMITED LIABILITY COMPANY,
NONPROFIT ORGANIZATION, SERVICE ORGANIZATION, OR OTHER LEGAL ENTITY.

2-1303.

- 3732 -