2013 Maryland Code
ECONOMIC DEVELOPMENT
§ 5-1201 - Definitions
§5-1201.
(a) In this subtitle the following words have the meanings indicated.
(b) “Fund” means the Maryland Not-For-Profit Development Center Program Fund established under § 5-1204 of this subtitle.
(c) “Not-for-profit entity” means a corporation incorporated in the State, or otherwise qualified to do business in the State, that has been determined by the Internal Revenue Service to be exempt from taxation under § 501(c)(3), (4), or (6) of the Internal Revenue Code.
(d) “Program” means the Maryland Not-For-Profit Development Center Program established under § 5-1202 of this subtitle.
(e) “Qualifying not-for-profit entity” means a not-for-profit entity:
(1) that has annual revenues not greater than $750,000;
(2) that has been in existence for not more than 10 years; and
(3) whose principal purpose is providing health, education, environmental, agricultural, or social services through community-based programs.
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