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Md. Code Ann., Econ. Dev. § 5-1401

Redline — January 1, 2019 → current.View current text →
Current — January 1, 2022
As of January 1, 2019
(a) In this subtitle the following words have the meanings indicated.
(a) In this subtitle the following words have the meanings indicated.
(b) “Area” means a geographic area in one or more political subdivisions in the State described by a closed perimeter boundary.
(b) “Area” means a geographic area in one or more political subdivisions in the State described by a closed perimeter boundary.
(c) “Fund” means the Regional Institution Strategic Enterprise Zone Fund created under § 5–1408 of this subtitle.
(c) “Nonprofit organization” means an organization that is exempt or eligible for exemption from taxation under § 501(c)(3) of the Internal Revenue Code.
(d) “Nonprofit organization” means an organization that is exempt or eligible for exemption from taxation under § 501(c)(3) of the Internal Revenue Code.
(d) “Qualified institution” means an entity that is designated as a qualified institution under § 5–1403 of this subtitle and may include: (1) a regional higher education center as defined under § 10–101 of the Education Article; (2) an institution of higher education as defined under § 10–101 of the Education Article; or (3) a nonprofit organization that is affiliated with a federal agency.
(e) “Qualified institution” means an entity that is designated as a qualified institution under § 5–1403 of this subtitle and may include: (1) a regional higher education center as defined under § 10–101 of the Education Article; (2) an institution of higher education as defined under § 10–101 of the Education Article; or (3) a nonprofit organization that is affiliated with a federal agency.
(e) “RISE zone” means a geographic area in immediate proximity to a qualified institution that is targeted for increased economic and community development that meets the requirements of § 5–1404 of this subtitle and is designated as a Regional Institution Strategic Enterprise zone by the Secretary under § 5–1404 of this subtitle.
(f) “RISE zone” means a geographic area in immediate proximity to a qualified institution that is targeted for increased economic and community development that meets the requirements of § 5–1404 of this subtitle and is designated as a Regional Institution Strategic Enterprise zone by the Secretary under § 5–1404 of this subtitle.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.