S.B. 460

VETOES

(6) "EXTRAORDINARY IMPACT" MEANS THE ATTRACTION OF A NEW
BUSINESS TO THE STATE OF MARYLAND OR THE MAINTENANCE OR THE EXPANSION
OF AN EXISTING MARYLAND BUSINESS THAT;

(I) MAINTAINS A STRONG FINANCIAL CONDITION AND MINIMAL
CREDIT RISK PROFILE:

(II) IS CAPABLE OF ACCESSING ALTERNATIVE SOURCES OF
FINANCING THROUGH THE BANKS OR CAPITAL MARKETS.

(III) SUPPORTS THE STATE'S STRATEGIC PLAN FOR ECONOMIC
DEVELOPMENT;

(IV) CREATES OR RETAINS SUBSTANTIAL EMPLOYMENT WITH
PARTICULAR ATTENTION PAID TO AREAS OF HIGH UNEMPLOYMENT: AND

(V) INVESTS IN CAPITAL AT A LEVEL EQUAL TO FIVE TIMES THE
GRANT OR LOAN OFFERED.

(6) "EXTRAORDINARY ECONOMIC DEVELOPMENT OPPORTUNITY' MEANS
THE:

(I) ATTRACTION OF A NEW PRIVATE SECTOR ENTERPRISE TO THE
STATE OR RETENTION OR EXPANSION OF AN EXISTING PRIVATE SECTOR ENTERPRISE IN
THE STATE THAT:

1.       MAINTAINS A STRONG FINANCIAL CONDITION AND MINIMAL
CREDIT RISK PROFILE:

2.       IS CAPABLE OF ACCESSING ALTERNATIVE SOURCES OF
FINANCING THROUGH FINANCIAL INSTITUTIONS OR CAPITAL MARKETS:

3. IS CONSISTENT WITH THE STRATEGIC PLAN OF THE STATE
FOR ECONOMIC DEVELOPMENT:

4. CREATES OR RETAINS SUBSTANTIAL EMPLOYMENT,
PARTICULARLY IN AREAS OF HIGH UNEMPLOYMENT; AND

5. INVESTS IN CAPITAL ATA LEVEL EQUAL TO FIVE TIMES THE
VALUE OF THE INCENTIVE OFFERED;

(II)    RETENTION OR EXPANSION OF AN EXISTING PUBLIC INSTITUTION.
PRIVATE INSTITUTION OR FEDERAL RESEARCH AND DEVELOPMENT INSTITUTE THAT:

1. IS CONSISTENT WITH THE STRATEGIC PLAN OF THE STATE
FOR ECONOMIC DEVELOPMENT; AND

2. CREATES OR RETAINS SUBSTANTIAL EMPLOYMENT,
PARTICULARLY IN AREAS OF HIGH UNEMPLOYMENT; OR

(III)   ESTABLISHMENT OR ATTRACTION OF A PUBLIC INSTITUTION, A
PRIVATE INSTITUTION, OR A FEDERAL RESEARCH AND DEVELOPMENT INSTITUTE NEW
TO THE STATE THAT:

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