§ 5-705

Maryland § 5-705

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 5

Text

(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.

(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.