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Md. Code Ann., Econ. Dev. § 5-425

Known as the Maryland Industrial Development Financing Authority Act

The act spans §§ 5-401 to 5-466 (53 sections).

(a) The Fund is a continuing, nonlapsing fund that is not subject to reversion under § 7-302 of the State Finance and Procurement Article.

(b) The Fund consists of:

(1) money appropriated in the State budget to the Fund;

(2) premiums, fees, and any other money received by the Authority with respect to financial assistance provided by the Authority from the Fund;

(3) proceeds from the sale, lease, or other disposition of property of the Authority;

(4) interest received from linked deposits made from the Linked Deposit Program under Part VI of this subtitle; and

(5) any other money made available under 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.