§ 5-1001. Definitions

West's Annotated Code of MarylandEconomic DevelopmentEffective: July 1, 2015

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division I. Secretary of Commerce and Department of Commerce [Titles 1-8] (Refs & Annos)
Title 5. Economic Development and Financial Assistance Programs (Refs & Annos)
Subtitle 10. Military Personnel and Veteran-Owned Small Business NO-Interest Loan Program (Refs & Annos)
Effective: July 1, 2015
MD Code, Economic Development, § 5-1001
§ 5-1001. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Fund
(b) “Fund” means the Military Personnel and Veteran-Owned Small Business No-Interest Loan Fund established under § 5-1006 of this subtitle.
Service-disabled veteran
(c) “Service-disabled veteran” means a veteran with a disability that is service-connected, as defined in 38 U.S.C. § 101(16).
Small business employer
(d)(1) “Small business employer” means an employer who employed an average of 50 or fewer employees on business days during the calendar year preceding the determination of eligibility for a loan under this subtitle.
(2) For purposes of paragraph (1) of this subsection, all persons treated as a single employer under § 414(b), (c), (m), or (o) of the Internal Revenue Code shall be treated as a single employer under this subtitle.
Veteran-owned small business
(e) “Veteran-owned small business” means a small business that is at least 51% owned by a veteran as defined in 38 U.S.C. § 101(2).

Credits

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2008, c. 307, § 1, eff. Oct. 1, 2008; Acts 2009, c. 730, § 1, eff. July 1, 2009; Acts 2013, c. 105, § 1, eff. Oct. 1, 2013; Acts 2015, c. 390, § 1, eff. July 1, 2015.
MD Code, Economic Development, § 5-1001, MD ECON DEV § 5-1001
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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