ROBERT L. EHRLICH, JR., Governor                             Ch. 499

Article 83B - Department of Housing and Community Development
Section 4-801, 4-811 and 4-812
Annotated Code of Maryland
(2003 Replacement Volume)

BY repealing and reenacting, without amendments,

Article 83B - Department of Housing and Community Development

Section 4-811

Annotated Code of Maryland

(2003 Replacement Volume)

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

Article 83B - Department of Housing and Community Development

4-801.

(a)     In this subtitle the following words have the meanings indicated.

(b)     "Application" means an application to the Board that may include one or
more of the following:

(1)     A request that an area be designated as a community legacy area;

(2)     A request to approve a community legacy plan; or

(3)     A request to approve a community legacy project.

(c)      "Board" means the Community Legacy Board.

(d)     "Community development financial institution" means a community
development financial institution as defined under 12 U.S.C. § 4702, as amended.

(e)     (1) "Community development organization" means a corporation,
foundation, or other legal entity which operates for the purpose of improving the
physical, economic, or social environment of its geographic areas of operation.

(2) "Community development organization" does not include a
corporation, foundation, or other legal entity in which all or a portion of the net
earnings inures to the benefit of any private shareholder or individual holding an
interest in that entity.

(f)      "Community legacy agreement" means an agreement between the
Department and a sponsor to develop a community legacy plan or implement one or
more community legacy projects in a designated community legacy area.

(g)     "Community legacy area" means an area:

(1)     Located in a priority funding area; and

(2)     Determined by the Board to satisfy the requirements of § 4-805 of
this subtitle.

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