Maryland Housing and Community Development Section 6-401

      (a)      In this subtitle the following words have the meanings indicated.

      (b)      "Approved project" means a project that the Department approves under § 6-405 of this subtitle.

      (c)      "Business entity" means a person that conducts a trade or business in the State and is subject to:

            (1)      the State income tax on individuals or corporations;

            (2)      the public service company franchise tax; or

            (3)      the insurance premiums tax.

      (d)      "Nonprofit organization" means a not for profit corporation, foundation, or other legal entity that is exempt from federal income tax under § 501(c)(3) of the Internal Revenue Code.

      (e)      "Priority funding area" means a priority funding area under § 5-7B-02 of the State Finance and Procurement Article.

      (f)      "Redevelopment assistance" means the money that nonprofit organizations spend for labor and materials used directly in the physical improvement of part or all of a priority funding area.