5-1302.

(A) THERE IS A MARYLAND COMPETITIVE ADVANTAGE FINANCING FUND IN
THE DEPARTMENT.

(B) THE PURPOSE OF THE FUND IS TO PROVIDE FINANCIAL ASSISTANCE FOR
THE DEVELOPMENT AND EXPANSION OF SMALL AND ECONOMICALLY
DISADVANTAGED INDIVIDUALS BUSINESSES IN THE STATE,

(C) (1) THE SECRETARY SHALL MANAGE AND ADMINISTER THE FUND.

(2) THE SECRETARY MAY DELEGATE THE AUTHORITY TO MAKE
FINANCING DECISIONS TO ANY BOARD OR AUTHORITY IN THE DEPARTMENT.

(D) (1) THE FUND IS A CONTINUING, NONLAPSING FUND WHICH IS NOT
SUBJECT TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE.

(2) THE TREASURER SHALL SEPARATELY HOLD AND THE COMPTROLLER
SHALL ACCOUNT FOR THE FUND.

(3) ANY INVESTMENT EARNINGS OF THE FUND SHALL BE PAID INTO
THE FUND. 

(E) THE FUND MAY CONSIST OF ANY OF THE FOLLOWING:

(1) MONEYS APPROPRIATED BY THE STATE TO THE FUND;

(2) MONEYS MADE AVAILABLE TO THE FUND THROUGH FEDERAL
PROGRAMS OR PRIVATE CONTRIBUTIONS;

(3) PREMIUMS, FEES, PENALTIES, INTEREST PAYMENTS, AND PRINCIPAL
PAYMENTS RELATED TO FINANCIAL ASSISTANCE PROVIDED FROM THE FUND;

(4) PROCEEDS FROM THE SALE, DISPOSITION, LEASE, OR RENTAL OF
COLLATERAL RELATED TO ANY FINANCIAL ASSISTANCE PROVIDED FROM THE FUND;

(5) APPLICATION OR OTHER FEES PAID TO THE PROGRAM IN
CONNECTION WITH THE PROCESSING OF REQUESTS FOR ASSISTANCE; AND

(6) ANY OTHER MONEYS MADE AVAILABLE TO THE FUND.

5-1303.

(A) THE DEPARTMENT MAY USE MONEYS IN THE FUND TO:

(1) PROVIDE FINANCIAL ASSISTANCE TO ELIGIBLE APPLICANTS; AND

(2) PAY EXPENSES FOR ADMINISTRATIVE, ACTUARIAL, LEGAL, AND
TECHNICAL SERVICES FOR THE PROGRAM.

(B) SUBJECT TO THE RESTRICTIONS OF THIS SUBTITLE, THE DEPARTMENT
MAY PROVIDE FINANCIAL ASSISTANCE FROM THE FUND TO A BUSINESS THAT:

(1) IS A SMALL BUSINESS;

(2) IS LOCATED IN A PRIORITY FUNDING AREA;