ROBERT L. EHRLICH, JR., Governor                             Ch. 467

(6) IT IS A MATTER OF SIGNIFICANT RURAL ECONOMIC DEVELOPMENT
IMPORTANCE THAT THE MARYLAND AGRICULTURAL AND RESOURCE-BASED
INDUSTRY DEVELOPMENT CORPORATION BE CREATED AND AUTHORIZED TO:

(I)      DEVELOP AGRICULTURAL INDUSTRIES AND MARKETS;

(II)     SUPPORT        APPROPRIATE        COMMERCIALIZATION        OF
AGRICULTURAL PROCESSES AND TECHNOLOGY; AND

(III)   ALLEVIATE THE SHORTAGE OF NONTRADITIONAL CAPITAL AND
CREDIT AVAILABLE AT AFFORDABLE INTEREST RATES FOR:

1.       INVESTMENT IN AGRICULTURE TO PROMOTE AND ASSIST
AGRICULTURE IN THE STATE;

2.       THE SALE OF AGRICULTURAL PRODUCTS, COMMODITIES,
AND SERVICES; AND

3.       CAPITAL INVESTMENT IN AGRICULTURAL PROJECTS BY
PROVIDING CAPITAL AND CREDIT WITHIN THE FINANCIAL MEANS OF PERSONS
ENGAGED IN AGRICULTURE IN THE STATE.

13-503.

(A)     THERE IS A MARYLAND AGRICULTURAL AND RESOURCE-BASED INDUSTRY
DEVELOPMENT CORPORATION.

(B)     THE CORPORATION IS:

(1)      A PUBLIC CORPORATION; AND

(2)      AN INSTRUMENTALITY OF THE STATE.

(C)     THE PURPOSE OF THE CORPORATION IS TO:

(1)     ASSIST THE VIABILITY OF THE STATE'S DIVERSE AGRICULTURAL
INDUSTRY THROUGH NEW MARKETS DEVELOPMENT, CAPITAL AND CREDIT
ENHANCEMENTS, AND TECHNICAL AND OTHER ASSISTANCE TO SUPPORT, CREATE,
AND SUSTAIN AGRICULTURAL BUSINESSES THROUGHOUT THE STATE;

(2)      PROVIDE FINANCING AND OTHER ASSISTANCE FOR PRODUCT
DEVELOPMENT, START-UP AND SCALE-UP OF MARYLAND FOOD- AND
FIBER-RELATED GROWING AND PROCESSING OPERATIONS, AND FOR
TECHNOLOGICAL ENHANCEMENTS THAT BENEFIT THE ENVIRONMENT AND WATER
QUALITY;

(3)      SEEK PARTNERSHIPS AND LEVERAGING OPPORTUNITIES WITH
PUBLIC AND PRIVATE FOR-PROFIT AND NOT-FOR-PROFIT ENTITIES IN MAKING
CAPITAL AND CREDIT ASSISTANCE AVAILABLE TO INDIVIDUAL PRODUCERS,
PRODUCER COOPERATIVES, AND OTHER AGRIBUSINESS CONCERNS OPERATING IN
THE STATE;

(4)      FACILITATE AND SUPPORT ACCESS TO HIGH QUALITY TECHNICAL
RESOURCES FOR AGRICULTURAL ENTREPRENEURS BY INCORPORATING EXISTING

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