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§ 14-101. Statement of policy

West's Annotated Code of MarylandEconomic DevelopmentEffective: October 1, 2008

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 14. Miscellaneous Provisions (Refs & Annos)
Subtitle 1. Broadened Ownership Act (Refs & Annos)
Effective: October 1, 2008
MD Code, Economic Development, § 14-101
§ 14-101. Statement of policy
Currentness
In general
(a) The State:
(1) recognizes the declaration of the Joint Economic Committee of the Congress of the United States that broadening the ownership of capital and achieving full employment should be the twin pillars of economic policy; and
(2) encourages the broadening of the base of capital ownership among greater numbers of the residents of the State through, as one means, the use of employee stock ownership plans.
Findings
(b) The General Assembly finds that employee stock ownership plans, as defined in the Internal Revenue Code, make an important contribution toward the broadening of capital ownership, increase the income and financial security of the residents of the State, assure the residents of the State greater control of their economic futures, improve productivity and labor-management relations, contribute to the national effort to combat inflation, strengthen the free enterprise system, and put Maryland in the forefront of contemporary economic trends.

Credits

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2008, c. 36, § 6, eff. April 8, 2008.
MD Code, Economic Development, § 14-101, MD ECON DEV § 14-101
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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