2013 Maryland Code
ECONOMIC DEVELOPMENT
§ 2-123 - Economic development programs [Effective July 1, 2013].

(a) "Economic development program" defined. -- In this section, "economic development program" means:

(1) each of the economic development and financial assistance programs established under Title 5 of this article; and

(2) each of the tax credit programs administered by the Department, including:

(i) the Film Production Activity Tax Credit;

(ii) the Job Creation Tax Credit;

(iii) the One Maryland Economic Development Tax Credit;

(iv) the Invest Maryland Program;

(v) the Biotechnology Investment Incentive Tax Credit; and

(vi) the Research and Development Tax Credit.

(b) Department to compile data. -- The Department shall compile data in accordance with this section on the economic development programs administered by the Department.

(c) Reports. -- On or before December 31, 2013, and each year thereafter, the Department shall submit a report on the economic development programs that were administered by the Department during the previous fiscal year to the Governor and, in accordance with § 2-1246 of the State Government Article, the General Assembly.

(d) Report -- Contents. --

(1) The report required under this section shall include the following data, if applicable, on the economic development programs administered by the Department:

(i) the number of jobs created;

(ii) the number of jobs retained;

(iii) the estimated amount of State revenue generated; and

(iv) any additional information required by the Department through regulations.

(2) The report required under this section shall include data in the aggregate and disaggregated by:

(i) each economic development program; and

(ii) each recipient of assistance from an economic development program.

(e) If a recipient of assistance from an economic development program is not meeting the requirements of the economic development program, the Department shall implement a process to assist the recipient in meeting the program requirements.