(a)(1) A political subdivision may apply to the Secretary to expand an existing enterprise zone in the same manner as the political subdivision would apply to designate a new enterprise zone.
(2) The Secretary may grant an expansion of an enterprise zone into an area that meets the requirements of § 5-704 of this subtitle.
(3) For purposes of § 5-704(b) of this subtitle, an expansion of an enterprise zone that does not exceed 25% of the existing geographic area of the enterprise zone does not count towards the limit on the number of enterprise zones that:
(i) the Secretary may designate in a calendar year; or
(ii) a county may receive in a calendar year.
Extraordinary expansion
(b)(1) The Secretary may grant one extraordinary expansion of an enterprise zone in the State each calendar year for an area that:
(i) meets the requirements of § 5-704 of this subtitle; and
(ii) in the determination of the Secretary, has suffered a significant loss of economic base or merits inclusion in an enterprise zone for a compelling economic reason.
(2) For purposes of § 5-704(b) of this subtitle, an extraordinary expansion of an enterprise zone does not count towards the limit on the number of enterprise zones that:
(i) the Secretary may designate in a calendar year; or
(ii) a county may receive in a calendar year.
Credits
Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2022, c. 732, § 1, eff. June 1, 2022.
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.
