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§ 6-701. Definitions

West's Annotated Code of MarylandHousing and Community DevelopmentEffective: July 1, 2021

West's Annotated Code of Maryland
Housing and Community Development (Refs & Annos)
Division I. Housing and Community Programs [Titles 1-11] (Refs & Annos)
Title 6. Division of Neighborhood Revitalization (Refs & Annos)
Subtitle 7. National Capital Strategic Economic Development Program (Refs & Annos)
Effective: July 1, 2021
MD Code, Housing & Community Development, § 6-701
§ 6-701. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Community development financial institution
(b) “Community development financial institution” has the meaning stated in 12 U.S.C. § 4702.
Community development organization
(c) “Community development organization” means an entity that meets the requirements under § 6-704 of this subtitle.
Financial assistance
(d)(1) “Financial assistance” means a grant, a loan, or an investment provided under this subtitle.
(2) “Financial assistance” includes:
(i) an assurance;
(ii) a guarantee;
(iii) a prepayment of interest on a subordinate or superior loan or portion of a loan;
(iv) a reduction in the principal obligation of or rate of interest payable on a loan or a portion of a loan; and
(v) any other form of credit enhancement.
National capital region
(e) “National capital region” means the areas of the State located within a sustainable community in Montgomery County or Prince George's County.
Program
(f) “Program” means the National Capital Strategic Economic Development Program.
Sustainable community
(g) “Sustainable community” means an area designated as a sustainable community under § 6-205 of this title.

Credits

Added by Acts 2019, c. 732, § 2, eff. Oct. 1, 2019. Amended by Acts 2021, c. 707, § 1, eff. July 1, 2021.
MD Code, Housing & Community Development, § 6-701, MD HOUS & CMTY DEV § 6-701
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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