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Ch. 305
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2000 LAWS OF MARYLAND
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(b) Any business entity moving into or locating within an enterprise zone on or
after the date on which the enterprise zone is designated pursuant to § 5-402 of this
subtitle may benefit from the incentives and initiatives set forth in this section, if:
(1) The business entity meets the requirements and conditions of the
Code section applicable to each incentive or initiative;
(2) The business entity is certified by the respective political subdivision
that it is in compliance with the standards submitted by the subdivision under §
5-402(d)(4) of this subtitle; and
(3) (i) The business entity creates new or additional jobs or makes a
capital investment in order to qualify for the property tax credit under § 9-103 of the
Tax - Property Article and the income tax credits under § 10-702 of the Tax - General
Article; and
(ii) In considering whether the business entity qualifies for [loans
and grants under the Maryland Industrial Land Act and the Maryland Industrial and
Commercial Redevelopment Fund and for insurance under the Enterprise Zone
Venture Capital Guarantee Fund] FINANCIAL ASSISTANCE FROM THE PROGRAMS
SET FORTH IN § 5-102 OF THIS ARTICLE, the Secretary determines that the business
entity will create new or additional jobs.
(c) Any business entity located within an enterprise zone before the date on
which the enterprise zone is designated pursuant to § 5-402 of this subtitle may not
benefit from the incentives and initiatives set forth in this section except with respect
to any capital investment or any expansion of its labor force occurring after the date
on which the enterprise zone is designated.
(d) Except as provided in § 10-702 of the Tax - General Article and § 9-103 of
the Tax - Property Article, the incentives and initiatives set forth in this section shall
be available for a period of 10 years following the date on which the area is designated
an enterprise zone pursuant to § 5-402 of this subtitle. No law hereinafter enacted
that eliminates or reduces the benefits available to business entities under this
section shall be applicable to any business entity located in an enterprise zone prior to
the effective date of such law.
Subtitle 5. Enterprise Fund.
5-501.
(a) In this [section] SUBTITLE the term "Fund" means the Enterprise Fund
established under this [section] SUBTITLE.
(b) Where the Department is otherwise authorized by law to make grants, the
Department may require repayment, with interest at a rate to be determined by the
Department, of all or a portion of a grant upon the occurrence of conditions specified
by the Department.
(c) (1) Where the Department is otherwise authorized by law to make
grants, including grants authorized under § 7-314 of the State Finance and
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