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§ 10-415. Annual report

West's Annotated Code of MarylandEconomic DevelopmentEffective: June 1, 2023

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 10. Statewide Development Resources and Revenue Authorities (Refs & Annos)
Subtitle 4. Maryland Technology Development Corporation (Refs & Annos)
Part I. General Provisions (Refs & Annos)
Effective: June 1, 2023
MD Code, Economic Development, § 10-415
§ 10-415. Annual report
Currentness
Required
(a)(1) On or before October 1 of each year, the Corporation shall report to the Governor, the Maryland Economic Development Commission, and, in accordance with § 2-1257 of the State Government Article, the General Assembly.
(2) The report required under this subsection shall include:
(i) a complete operating and financial statement covering the Corporation's operations;
(ii) a summary of the Corporation's activities during the preceding fiscal year;
(iii) information on all salaries and any incentives approved by the Board for Corporation employees;
(iv) information on outreach, training, mentorship, support, and investment in minority and women-owned qualified businesses, including support for marketing by the Maryland Small Business Development Financing Authority;
(v) information on entities that have current investments and entities that received funding or investments in the current year on the:
1. principal business operations;
2. number of employees in the State and the number of employees outside the State;
3. capital or other investments made in the State; and
4. proposed and actual job creation or capital investment in the State as a result of the investment or support;
(vi) a list of businesses that have received funding that would no longer qualify as a qualified business; and
(vii) information on the creation of and appointments made to an advisory committee and the responsibilities of the advisory committee and members of the committee.
Report
(b)(1) On or before October 1 each year, beginning in 2023, and every 6 months thereafter, the Corporation shall report to the Governor, the Maryland Economic Development Commission, and, in accordance with § 2-1257 of the State Government Article, the Joint Audit and Evaluation Committee and the General Assembly.
(2) The report required under this subsection shall include a list of the qualified businesses or other businesses receiving support through programs administered by the Corporation, including those receiving investments made under § 21-123.2 of the State Personnel and Pensions Article.
(3) The list of qualified businesses or other businesses receiving support shall include for each business:
(i) the number of employees in the State;
(ii) the number of employees outside the State;
(iii) the capital or other investments made in the State; and
(iv) proposed job creation or capital investment in the State as a result of the investment or support.

Credits

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2015, c. 141, § 2, eff. Oct. 1, 2015; Acts 2019, c. 8, § 5; Acts 2019, c. 487, § 1, eff. June 1, 2019; Acts 2019, c. 488, § 1, eff. June 1, 2019; Acts 2020, c. 580, § 1, eff. Oct. 1, 2020; Acts 2023, c. 47, § 1, eff. June 1, 2023; Acts 2023, c. 48, § 1, eff. June 1, 2023.
MD Code, Economic Development, § 10-415, MD ECON DEV § 10-415
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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