as a nonlapsing fund in the Department of Business and Economic
Development; providing for the management of the Fund; specifying what
moneys may constitute the Fund; authorizing moneys from the Fund to be used
for certain purposes, including making loans to eligible applicants subject to
certain requirements and restrictions; creating the Maryland Economic
Development Assistance Authority in the Department; providing for the
membership of the Authority; specifying the powers and duties of the Authority;
requiring the establishment of an annual list of eligible industry sectors;
specifying the terms of the initial members of the Authority; requiring the
Department to convene a certain study panel; requiring the Department to make
certain reports; providing that the Fund is a growth-related project for purposes
of determining the priority of State funding of capital projects; defining certain
terms; providing for the termination of this Act; and generally relating to the
Maryland Economic Development Assistance Authority and Fund.

BY adding to

Article 83A - Department of Business and Economic Development

Section 5-1301 through 5-1306, inclusive, to be under the new subtitle "Subtitle

13. Maryland Economic Development Assistance Authority and Fund"
Annotated Code of Maryland
(1998 Replacement Volume)

BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 5-7B-01(d)(1)(iii)
Annotated Code of Maryland

(1995 Replacement Volume and 1998 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 83A- Department of Business and Economic Development

SUBTITLE 13. MARYLAND ECONOMIC DEVELOPMENT ASSISTANCE AUTHORITY AND

FUND.

5-1301.

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

(B) "AUTHORITY' MEANS THE MARYLAND ECONOMIC DEVELOPMENT
ASSISTANCE AUTHORITY.

(C) "FUND" MEANS THE MARYLAND ECONOMIC DEVELOPMENT ASSISTANCE
FUND.

(D) "PRIORITY FUNDING AREA" HAS THE MEANING STATED IN § 5-7B-02 OF
THE STATE FINANCE AND PROCUREMENT ARTICLE.