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§ 16-102. Purple Line Construction Zone Grant Program

West's Annotated Code of MarylandEconomic DevelopmentEffective: July 1, 2022

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 16. Purple Line Construction Zone Grant Program (Refs & Annos)
Effective: July 1, 2022
MD Code, Economic Development, § 16-102
§ 16-102. Purple Line Construction Zone Grant Program
Currentness
Establishment; purpose
(a)(1) There is a Purple Line Construction Zone Grant Program.
(2) The purpose of the Grant Program is to provide funds to Montgomery County and Prince George's County to provide assistance to qualified small businesses to assist in offsetting business revenue lost as a result of the construction of the Purple Line light rail project in those counties.
(3) In each of fiscal years 2023 and 2024, the Department of Commerce shall provide $1,000,000 in general funds to the Grant Program to assist qualified small businesses.
Implementation
(b)(1) The Department of Commerce shall implement the Grant Program.
(2) The Department shall distribute funds provided for the Grant Program based on the number of qualified small businesses located in Montgomery County and Prince George's County.
County that receives funds shall implement process for awarding grants
(c) A county that receives funds under this section shall implement a process for awarding grants to eligible qualified small businesses.
Limits on awarding grants
(d)(1) The Department of Commerce may distribute funding in accordance with subsection (b) of this section and a county may award grants until all the money allotted for the Grant Program has been distributed or awarded or until December 31, 2024, whichever occurs first.
(2) Any money that has not been distributed or awarded on or before December 31, 2024, shall revert to the Maryland Economic Development Assistance Fund.

Credits

Added by Acts 2021, 1st Sp. Sess., c. 11, § 1, eff. Jan. 5, 2022; Acts 2021, 1st Sp. Sess., c. 20, § 1, eff. Jan. 5, 2022. Amended by Acts 2021, c. 109, § 5; Acts 2022, c. 116, § 1, eff. July 1, 2022.
MD Code, Economic Development, § 16-102, MD ECON DEV § 16-102
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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