ROBERT L. EHRLICH, JR., Governor

H.B. 1179

BUILDING AND LOAN ASSOCIATION, HOMESTEAD, INSURANCE COMPANY,
INVESTMENT BANKER, MORTGAGE BANKER OR COMPANY, PENSION OR RETIREMENT
FUND, SAVINGS BANK OR SAVINGS AND LOAN ASSOCIATION, SMALL BUSINESS
INVESTMENT COMPANY, CREDIT UNION, OR ANY OTHER FINANCIAL INSTITUTION
AUTHORIZED TO DO BUSINESS IN THE STATE OR OPERATING UNDER THE
SUPERVISION OF A FEDERAL UNIT.

(H) (1) "PERSON" MEANS AN INDIVIDUAL, RECEIVER, TRUSTEE, GUARDIAN,
PERSONAL REPRESENTATIVE, FIDUCIARY, REPRESENTATIVE OF ANY KIND,
PARTNERSHIP, FIRM, ASSOCIATION, CORPORATION, OR OTHER ENTITY.

(2) "PERSON" INCLUDES A UNIT OF A STATE OR OF THE FEDERAL
GOVERNMENT.

(I) (1) "PROJECT" MEANS A PROPERTY, THE ACQUISITION, CONSTRUCTION,
RECONSTRUCTION, EQUIPPING, EXPANSION, EXTENSION, IMPROVEMENT,
REHABILITATION, OR REMODELING OF WHICH THE BOARD, IN ITS SOLE AND
ABSOLUTE DISCRETION, DETERMINES BY RESOLUTION WILL ACCOMPLISH AT LEAST
ONE OF THE PURPOSES LISTED IN §§ 13-602 AND 13-603 OF THIS SUBTITLE, WHETHER
THE PROPERTY, OR ANY INTEREST IN THE PROPERTY:

(I)      IS OR WILL BE USED OR OPERATED FOR PROFIT OR NOT FOR
PROFIT;

(II)     IS OR WILL BE LOCATED ON A SINGLE SITE OR MULTIPLE SITES;
OR

(III)   MAY BE FINANCED BY BONDS, THE INTEREST ON WHICH IS
EXEMPT FROM FEDERAL INCOME TAXATION UNDER FEDERAL LAW.

(2) "PROJECT" INCLUDES:

(I)      LAND OR ANY INTEREST IN LAND;

(II)     BUILDINGS, STRUCTURES, MACHINERY, EQUIPMENT,
FURNISHINGS, RAIL OR MOTOR VEHICLES, BARGES, AND BOATS;

(III)   REAL OR PERSONAL PROPERTY, OR ANY COMBINATION OF
THEM, AND RIGHTS RELATED TO THE PROPERTY, APPURTENANCES, RIGHTS-OF-WAY,
FRANCHISES, EASEMENTS, AND OTHER INTERESTS IN LAND;

(IV)    LAND AND FACILITIES FUNCTIONALLY RELATED AND
SUBORDINATE TO THE PROJECT; AND

(V)     PATENTS, LICENSES, AND OTHER RIGHTS NECESSARY OR
USEFUL IN THE CONSTRUCTION OR OPERATION OF A PROJECT.

(J) (1) "REVENUE" MEANS THE INCOME, REVENUE, AND OTHER MONEY
RECEIVED BY THE CORPORATION FROM OR IN CONNECTION WITH A PROJECT.

(2) "REVENUE" INCLUDES GRANTS, RENTALS, RATES, FEES, CHARGES
FOR THE USE OF THE SERVICES FURNISHED OR AVAILABLE, AND ALL OTHER
INCOME INURING TO THE CORPORATION.

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