EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*hb0256*
HOUSE BILL 256
C7, C8 2lr1269
CF 2lr1268
By: Delegate Forbes
Introduced and read first time: January 13, 2022
Assigned to: Ways and Means
A BILL ENTITLED
AN ACT concerning 1
Maryland Nonprofit Development Center Program – Nonprofit, Interest–Free, 2
Micro Bridge Loan (NIMBL) Account – Funding 3
FOR the purpose of altering, beginning in a certain fiscal year, the percentage to be paid 4
by the Comptroller from the Small, Minority, and Women–Owned Businesses 5
Account to the Nonprofit, Interest–Free, Micro Bridge Loan (NIMBL) Account within 6
the Maryland Nonprofit Development Center Program Fund; requiring the Governor 7
to include in the annual budget bill a certain appropriation for a certain fiscal year 8
for the Fund to be used for certain loans under the NIMBL Account; and generally 9
relating to the Maryland Nonprofit Development Center Program. 10
BY repealing and reenacting, without amendments, 11
Article – Economic Development 12
Section 5–1204(a)(1) 13
Annotated Code of Maryland 14
(2018 Replacement Volume and 2021 Supplement) 15
BY repealing and reenacting, with amendments, 16
Article – State Government 17
Section 9–1A–27(a)(6) 18
Annotated Code of Maryland 19
(2021 Replacement Volume) 20
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 21
That the Laws of Maryland read as follows: 22
Article – Economic Development 23
5–1204. 24
(a) (1) (i) There is a Maryland Nonprofit Development Center Program 25 2 HOUSE BILL 256
Fund in the Department. 1
(ii) 1. Within the Fund, there is a Nonprofit, Interest–Free, 2
Micro Bridge Loan (NIMBL) Account. 3
2. The Account consists of: 4
A. money received under § 9–1A–27 of the State Government 5
Article; and 6
B. any other money appropriated, transferred by budget 7
amendment, or repaid to the Account. 8
3. The money in the Account may not exceed $1,000,000. 9
4. If the money in the Account exceeds $1,000,000, any 10
money in excess of that amount shall be transferred to the Small, Minority, a nd 11
Women–Owned Businesses Account established under § 5–1501 of this title. 12
Article – State Government 13
9–1A–27. 14
(a) Except as provided in subsections (b) and (c) of this section and § 15
9–1A–26(a)(3) of this subtitle, on a properly approved transmittal prepared by the 16
Commission, the Comptroller shall pay the following amounts from the proceeds of video 17
lottery terminals at each video lottery facility: 18
(6) (i) except as provided in items (ii) and (iii) of this item, 1.5% to the 19
Small, Minority, and Women–Owned Businesses Account established under § 5–1501 of 20
the Economic Development Article; 21
(ii) for fiscal year 2018, 1.5% to the General Fund to pay a portion of 22
the costs of the grants provided under Chapters 6 and 607 of the Acts of the General 23
Assembly of 2017; 24
(iii) for fiscal years 2019 and 2020, 1.5% to the Education Trust Fund 25
established under § 9–1A–30 of this subtitle; and 26
(iv) beginning in fiscal year [2021] 2023, from the amount paid to 27
the Small, Minority, and Women–Owned Businesses Account under item (i) of this item, 28
[up to] 5%, not to exceed $1,000,000, to the Nonprofit, Interest–Free, Micro Bridge Loan 29
(NIMBL) Account established under § 5–1204 of the Economic Development Article; 30
SECTION 2. AND BE IT FURTHER ENACTED, That, for fiscal year 2024, the 31
Governor shall include in the annual budget bill a General Fund appropriation of 32
$1,000,000 to the Maryland Nonprofit Development Center Program Fund (T00F00.11) 33 HOUSE BILL 256 3
within the Department of Commerce to be used for loans made under the Nonprofit, 1
Interest–Free, Micro Bridge Loan Account under Title 5, Subtitle 12 of the Economic 2
Development Article. 3
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take eff ect July 4
1, 2022. 5