Md. Code, Economic Development § 10-4C-04
This is the official text of Md. Code, Economic Development § 10-4C-04, part of Maryland’s Code, Economic Development — governs the state's economic development programs.
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§10–4C–04.
Official statutory text
§10–4C–04. IN EFFECT
// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //
(a) The Corporation shall adopt standards to award financial assistance under this subtitle.
(b) The Corporation may award financial assistance to:
(1) a local government;
(2) an agency, an instrumentality, or a nonprofit corporation that the local government designates; or
(3) a nonprofit entity operating or seeking to operate a makerspace in the State.
(c) To the extent practicable, the Corporation shall award financial assistance in a manner that reflects geographic diversity.
(d) A recipient of financial assistance under this section:
(1) shall provide matching funds or in–kind contributions for the project at least equal to the amount of financial assistance awarded; and
(2) may not utilize the financial assistance awarded for the operating costs of the makerspace after the first 3 years of operation.
(e) Unless two–thirds of the membership of the Board approves, the Corporation may not award financial assistance within a single county under this section that exceeds a total of $250,000 in a single fiscal year.
// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //
(a) The Corporation shall adopt standards to award financial assistance under this subtitle.
(b) The Corporation may award financial assistance to:
(1) a local government;
(2) an agency, an instrumentality, or a nonprofit corporation that the local government designates; or
(3) a nonprofit entity operating or seeking to operate a makerspace in the State.
(c) To the extent practicable, the Corporation shall award financial assistance in a manner that reflects geographic diversity.
(d) A recipient of financial assistance under this section:
(1) shall provide matching funds or in–kind contributions for the project at least equal to the amount of financial assistance awarded; and
(2) may not utilize the financial assistance awarded for the operating costs of the makerspace after the first 3 years of operation.
(e) Unless two–thirds of the membership of the Board approves, the Corporation may not award financial assistance within a single county under this section that exceeds a total of $250,000 in a single fiscal year.
Status: in_force · Read it on the official government site
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