§ 10-4C-04

Maryland § 10-4C-04

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

Text

§10–4C–04. IN EFFECT

// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //

(a) The Corporation shall adopt standards to award financial assistance under this subtitle.

(b) The Corporation may award financial assistance to:

(1) a local government;

(2) an agency, an instrumentality, or a nonprofit corporation that the local government designates; or

(3) a nonprofit entity operating or seeking to operate a makerspace in the State.

(c) To the extent practicable, the Corporation shall award financial assistance in a manner that reflects geographic diversity.

(d) A recipient of financial assistance under this section:

(1) shall provide matching funds or in–kind contributions for the project at least equal to the amount of financial assistance awarded; and

(2) may not utilize the financial assistance awarded for the operating costs of the makerspace after the first 3 years of operation.

(e) Unless two–thirds of the membership of the Board approves, the Corporation may not award financial assistance within a single county under this section that exceeds a total of $250,000 in a single fiscal year.