§ 10-1104

Maryland § 10-1104

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 10

Text

The purposes of the Corporation are to:

(1) do all things necessary to qualify as a qualified community development entity;

(2) apply to the U.S. Department of the Treasury to be designated as a qualified community development entity;

(3) apply to the U.S. Department of the Treasury for an allocation of new markets tax credits;

(4) receive, make, and facilitate qualified equity investments and financial assistance available in low–income communities in the State;

(5) allocate any new markets tax credits received by the Corporation;

(6) coordinate with other qualified community development entities in the State to help ensure that low–income communities are receiving the maximum benefit of qualified equity investments in the State;

(7) make investments and financial assistance available to low–income communities in the State from the Corporation’s money or from any other source;

(8) build a long–term financial capacity and sustained investment in low–income communities in the State;

(9) coordinate and create pathways to follow–on financing in the State; and

(10) foster inclusive and diverse entrepreneurship and innovation throughout the State, which may include initiatives to raise awareness of programs to assist low–income communities.