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PARRIS N. GLENDENING, Governor
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H.B. 972
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(6) In approving financial assistance, the Secretary shall consider the
aggregate amount of financial assistance that may already have been provided for a
particular qualified distressed county under this section and under any other State
economic development program to ensure that no particular qualified distressed
county benefits disproportionately from financial assistance under this section.
(d) The Department may develop a local strategic plan for economic
development in a qualified distressed county in consultation with a municipal
corporation in that county if:
(1) The qualified distressed county has not developed a local strategic
plan for economic development; or
(2) The qualified distressed county has developed a local strategic plan
for economic development but is not actively pursuing financial assistance from the
Fund.
(e) A municipal corporation located in a qualified distressed county may:
(1) Apply for financial assistance from the Fund in a manner consistent
with the plan developed by the Department in consultation with the municipal
corporation if the qualified distressed county has not developed a local strategic plan
for economic development; or
(2) Apply for financial assistance from the Fund in a manner consistent
with the plan developed by the qualified distressed county if the qualified distressed
county has developed a local strategic plan for economic development but is not
actively pursuing financial assistance from the Fund.
Subtitle 9. Maryland Industrial Development Financing Authority.
[Part I. Definitions; General Provisions.]
5-901.
(a) In this subtitle, the following words have the meanings indicated.
(b) "Acquisition" means the acquisition, construction, reconstruction,
equipping, expansion, extension, improvement, rehabilitation, or remodeling of 1 or
more facilities OR ENERGY PROJECTS.
(c) "Authority" means the Maryland Industrial Development Financing
Authority.
(d) ["Authorized Purpose Insurance Fund" means the Authorized Purpose
Insurance Fund created by § 5-915 of this subtitle.
(e) ] "Authorized purpose obligations" means bonds or notes, or other
instruments, certificates, or other evidences of obligation issued, offered for sale or
delivered by any person or public body for any purpose found and determined by the
Authority to accomplish the purposes of this subtitle.
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- 4655 -
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