| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW. | |
| 4 | 4 | [Brackets] indicate matter deleted from existing law. | |
| 5 | - | Underlining indicates amendments to bill. | |
| 6 | - | Strike out indicates matter stricken from the bill by amendment or deleted from the law by | |
| 7 | - | amendment. | |
| 8 | 5 | *sb0393* | |
| 9 | 6 | ||
| 10 | 7 | SENATE BILL 393 | |
| 11 | 8 | C8 2lr0141 | |
| 12 | 9 | CF HB 414 | |
| 13 | 10 | By: The President (By Request – Administration) and Senators Bailey, Carozza, | |
| 14 | 11 | Cassilly, Corderman, Eckardt, Edwards, Elfreth, Gallion, Hershey, Hester, | |
| 15 | - | Hough, Jennings, Ready, Salling, Simonaire, and West West, Kagan, and | |
| 16 | - | Ellis | |
| 12 | + | Hough, Jennings, Ready, Salling, Simonaire, and West | |
| 17 | 13 | Introduced and read first time: January 24, 2022 | |
| 18 | 14 | Assigned to: Education, Health, and Environmental Affairs | |
| 19 | - | Committee Report: Favorable with amendments | |
| 20 | - | Senate action: Adopted | |
| 21 | - | Read second time: March 3, 2022 | |
| 22 | 15 | ||
| 23 | - | ||
| 16 | + | A BILL ENTITLED | |
| 24 | 17 | ||
| 25 | 18 | AN ACT concerning 1 | |
| 26 | 19 | ||
| 27 | 20 | Economic Development – Project Restore Program and Fund 2 | |
| 28 | 21 | ||
| 29 | 22 | FOR the purpose of establishing the Project Restore Program within the Department of 3 | |
| 30 | 23 | Housing and Community Development to provide financial incentives for small 4 | |
| 31 | - | businesses and | |
| 32 | - | ||
| 33 | - | ||
| 34 | - | ||
| 35 | - | ||
| 36 | - | ||
| 24 | + | businesses and commercial developers to revitalize certain vacant retail and 5 | |
| 25 | + | commercial space; authorizing the award of certain grants to certain businesses and 6 | |
| 26 | + | developers under certain circumstances; establishing the Project Restore Fund as a 7 | |
| 27 | + | special, nonlapsing fund in the Department; requiring interest earnings of the Fund 8 | |
| 28 | + | to be credited to the Fund; and generally relating to the Project Restore Program and 9 | |
| 29 | + | Fund. 10 | |
| 37 | 30 | ||
| 38 | 31 | BY repealing and reenacting, without amendments, 11 | |
| 39 | 32 | Article – Economic Development 12 | |
| 40 | 33 | Section 6–801(a) and (l) 13 | |
| 41 | 34 | Annotated Code of Maryland 14 | |
| 42 | 35 | (2018 Replacement Volume and 2021 Supplement) 15 | |
| 43 | 36 | ||
| 44 | 37 | BY adding to 16 | |
| 45 | 38 | Article – Housing and Community Development 17 | |
| 46 | 39 | Section 6–1101 and 6–1102 to be under the new subtitle “Subtitle 11. Project Restore18 | |
| 47 | 40 | Program and Fund” 19 | |
| 48 | - | Annotated Code of Maryland 20 2 SENATE BILL 393 | |
| 41 | + | Annotated Code of Maryland 20 | |
| 42 | + | (2019 Replacement Volume and 2021 Supplement) 21 | |
| 43 | + | ||
| 44 | + | BY repealing and reenacting, without amendments, 22 | |
| 45 | + | Article – State Finance and Procurement 23 | |
| 46 | + | Section 6–226(a)(2)(i) 24 | |
| 47 | + | Annotated Code of Maryland 25 | |
| 48 | + | (2021 Replacement Volume) 26 2 SENATE BILL 393 | |
| 49 | 49 | ||
| 50 | 50 | ||
| 51 | - | (2019 Replacement Volume and 2021 Supplement) 1 | |
| 52 | 51 | ||
| 53 | - | BY repealing and reenacting, | |
| 54 | - | Article – State Finance and Procurement | |
| 55 | - | Section 6–226(a)(2)( | |
| 56 | - | Annotated Code of Maryland | |
| 57 | - | (2021 Replacement Volume) | |
| 52 | + | BY repealing and reenacting, with amendments, 1 | |
| 53 | + | Article – State Finance and Procurement 2 | |
| 54 | + | Section 6–226(a)(2)(ii)144. and 145. 3 | |
| 55 | + | Annotated Code of Maryland 4 | |
| 56 | + | (2021 Replacement Volume) 5 | |
| 58 | 57 | ||
| 59 | - | BY | |
| 60 | - | Article – State Finance and Procurement | |
| 61 | - | Section 6–226(a)(2)(ii) | |
| 62 | - | Annotated Code of Maryland | |
| 63 | - | (2021 Replacement Volume) | |
| 58 | + | BY adding to 6 | |
| 59 | + | Article – State Finance and Procurement 7 | |
| 60 | + | Section 6–226(a)(2)(ii)146. 8 | |
| 61 | + | Annotated Code of Maryland 9 | |
| 62 | + | (2021 Replacement Volume) 10 | |
| 64 | 63 | ||
| 65 | - | BY adding to 12 | |
| 66 | - | Article – State Finance and Procurement 13 | |
| 67 | - | Section 6–226(a)(2)(ii)146. 14 | |
| 68 | - | Annotated Code of Maryland 15 | |
| 69 | - | (2021 Replacement Volume) 16 | |
| 64 | + | SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 11 | |
| 65 | + | That the Laws of Maryland read as follows: 12 | |
| 70 | 66 | ||
| 71 | - | SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 17 | |
| 72 | - | That the Laws of Maryland read as follows: 18 | |
| 67 | + | Article – Economic Development 13 | |
| 73 | 68 | ||
| 74 | - | ||
| 69 | + | 6–801. 14 | |
| 75 | 70 | ||
| 76 | - | ||
| 71 | + | (a) In this subtitle the following words have the meanings indicated. 15 | |
| 77 | 72 | ||
| 78 | - | ( | |
| 73 | + | (l) “Tier I area” means: 16 | |
| 79 | 74 | ||
| 80 | - | ( | |
| 75 | + | (1) a Tier I county, as defined in § 1–101 of this article; 17 | |
| 81 | 76 | ||
| 82 | - | (1) a Tier I county, as defined in § 1–101 of this article; 23 | |
| 77 | + | (2) a county designated by the Department that is not a county described 18 | |
| 78 | + | in item (1) of this subsection, not to exceed three counties; or 19 | |
| 83 | 79 | ||
| 84 | - | (2) a county designated by the Department that is not a county described 24 | |
| 85 | - | in item (1) of this subsection, not to exceed three counties; or 25 | |
| 80 | + | (3) an opportunity zone. 20 | |
| 86 | 81 | ||
| 87 | - | ||
| 82 | + | Article – Housing and Community Development 21 | |
| 88 | 83 | ||
| 89 | - | ||
| 84 | + | SUBTITLE 11. PROJECT RESTORE PROGRAM AND FUND. 22 | |
| 90 | 85 | ||
| 91 | - | ||
| 86 | + | 6–1101. 23 | |
| 92 | 87 | ||
| 93 | - | 6–1101. 29 | |
| 88 | + | (A) IN THIS SECTION , “PROGRAM” MEANS THE PROJECT RESTORE 24 | |
| 89 | + | PROGRAM. 25 | |
| 94 | 90 | ||
| 95 | - | (A) IN THIS SECTION , “PROGRAM” MEANS THE PROJECT RESTORE 30 | |
| 96 | - | PROGRAM. 31 | |
| 91 | + | (B) THERE IS A PROJECT RESTORE PROGRAM IN THE DEPARTMENT . 26 | |
| 92 | + | ||
| 93 | + | (C) THE PURPOSE OF THE PROGRAM IS TO PROVIDE FINANCIAL 27 | |
| 94 | + | INCENTIVES FOR SMALL BUSINESSES AND COMME RCIAL DEVELOPERS TO 28 | |
| 95 | + | REVITALIZE VACANT RE TAIL AND COMMERCIAL SPACE. 29 | |
| 97 | 96 | SENATE BILL 393 3 | |
| 98 | 97 | ||
| 99 | 98 | ||
| 100 | - | (B) THERE IS A PROJECT RESTORE PROGRAM IN THE DEPARTMENT . 1 | |
| 99 | + | (D) EXPENDITURES FOR THE PROGRAM MAY BE MADE ONLY IN 1 | |
| 100 | + | ACCORDANCE WITH THE STATE BUDGET . 2 | |
| 101 | 101 | ||
| 102 | - | (C) THE PURPOSE OF THE PROGRAM IS TO PROVIDE FINANCIAL 2 | |
| 103 | - | INCENTIVES FOR SMALL BUSINESSES AND, COMMERCIAL DEVELOPER S, AND 3 | |
| 104 | - | NONPROFIT ORGANIZATI ONS TO REVITALIZE VACANT RETAIL AND COMMERCIA L 4 | |
| 105 | - | SPACE. 5 | |
| 102 | + | (E) SUBJECT TO THE AVAILABILITY OF FUNDING AND IN ACCORDANCE WITH 3 | |
| 103 | + | CRITERIA ESTABLISHED BY THE DEPARTMENT , THE PROGRAM SHALL PROVIDE 4 | |
| 104 | + | RENTAL GRANTS AND BU SINESS OPERATION GRA NTS TO ELIGIBLE BUSI NESSES. 5 | |
| 106 | 105 | ||
| 107 | - | (D) EXPENDITURES FOR THE PROGRAM MAY BE MADE O NLY IN 6 | |
| 108 | - | ACCORDANCE WITH THE STATE BUDGET. 7 | |
| 106 | + | (F) (1) IN ORDER TO BE ELIGIB LE FOR THE PROGRAM, A BUSINESS SHALL 6 | |
| 107 | + | OPEN OR EXPAND IN A RETAIL OR COMMERCIAL PROPERTY THAT HAS BE EN VACANT 7 | |
| 108 | + | FOR AT LEAST 6 CONTINUOUS MONTHS BE FORE THE LATER OF TH E DATE THAT THE 8 | |
| 109 | + | BUSINESS: 9 | |
| 109 | 110 | ||
| 110 | - | (E) (1) SUBJECT TO THE AVAILA BILITY OF FUNDING AN D IN 8 | |
| 111 | - | ACCORDANCE WITH CRIT ERIA ESTABLISHED BY THE DEPARTMENT , THE PROGRAM 9 | |
| 112 | - | SHALL PROVIDE RENTAL GRANTS AND BUSINESS OPERATION GRANTS TO ELIGIBLE 10 | |
| 113 | - | BUSINESSES AND NONPROFIT ORGANI ZATIONS. 11 | |
| 111 | + | (I) OBTAINED AN OWNERSHI P INTEREST IN THE PR OPERTY; OR 10 | |
| 114 | 112 | ||
| 115 | - | (2) (I) SUBJECT TO SUBPARAGRA PH (II) OF THIS PARAGRAPH , THE 12 | |
| 116 | - | PROGRAM SHALL GIVE GR ANT PRIORITY TO SMAL L BUSINESSES AND NON PROFIT 13 | |
| 117 | - | ORGANIZATIONS THAT O FFER HEALTHY FOOD OP TIONS IN DESIGNATED FOOD 14 | |
| 118 | - | DESERT AREAS OR SUST AINABLE COMMUNITIES UNDER TITLE 6 OF THIS ARTICLE. 15 | |
| 113 | + | (II) BEGAN CONSTRUCTION OR RENOVATION OF THE 11 | |
| 114 | + | PROPERTY. 12 | |
| 119 | 115 | ||
| 120 | - | (II) FIRST PRIORITY SHALL BE GIVEN TO NEW, RECOVERING , OR 16 | |
| 121 | - | EXPANDING SMALL BUSI NESSES AND NONPROFIT ORGANIZATIONS THAT M EET THE 17 | |
| 122 | - | REQUIREMENTS OF SUBP ARAGRAPH (I) OF THIS PARAGRAPH AN D SOURCE FRESH 18 | |
| 123 | - | FOOD FROM FARMERS IN THE STATE. 19 | |
| 116 | + | (2) A BUSINESS THAT TOOK A N OWNERSHIP INTEREST IN A PROPERTY 13 | |
| 117 | + | OR BEGAN CONSTRUCTIO N OR RENOVATION OF A PROPERTY BEFORE JULY 1, 2021, 14 | |
| 118 | + | IS NOT ELIGIBLE FOR THE PROGRAM WITH RESPECT TO THAT PROPERTY. 15 | |
| 124 | 119 | ||
| 125 | - | (F) (1) IN ORDER TO BE ELIGIBLE FOR THE PROGRAM, A BUSINESS OR 20 | |
| 126 | - | NONPROFIT ORGANIZATI ON SHALL OPEN OR EXPAND IN A RETAIL OR COMME RCIAL 21 | |
| 127 | - | PROPERTY THAT HAS BE EN VACANT FOR AT LEA ST 6 CONTINUOUS MONTHS BE FORE 22 | |
| 128 | - | THE LATER OF THE DAT E THAT THE BUSINESS OR NONPROFIT ORGANIZ ATION: 23 | |
| 120 | + | (3) THE DEPARTMENT MAY EXCLUDE CERTAIN TYPE S OF 16 | |
| 121 | + | BUSINESSES FROM ELIG IBILITY FOR THE PROGRAM. 17 | |
| 129 | 122 | ||
| 130 | - | (I) OBTAINED AN OWNERSHI P INTEREST IN THE PR OPERTY; OR 24 | |
| 123 | + | (G) (1) THE PROGRAM MAY AWARD REN TAL GRANTS ONLY TO AN 18 | |
| 124 | + | ELIGIBLE BUSINESS WI TH 50 OR FEWER FULL –TIME EQUIVALENT EMPL OYEES. 19 | |
| 131 | 125 | ||
| 132 | - | (II) BEGAN CONSTRUCTION O R RENOVATION OF THE 25 | |
| 133 | - | PROPERTY. 26 | |
| 126 | + | (2) AN ELIGIBLE BUSINESS MAY USE RENTAL GRANT FUNDS 20 | |
| 127 | + | AWARDED UNDER THIS S UBSECTION TO SUPPORT THE PAYMENT OF RENT, 21 | |
| 128 | + | MORTGAGE , OR PROPERTY TAXES BA SED ON WHETHER THE BUSINESS WILL LEASE, 22 | |
| 129 | + | WILL PURCHASE, OR ALREADY OWNS THE VACANT PROPERTY THAT THE BUSINESS 23 | |
| 130 | + | WILL OCCUPY. 24 | |
| 134 | 131 | ||
| 135 | - | (2) A BUSINESS OR NONPROFIT ORGANIZ ATION THAT TOOK AN 27 | |
| 136 | - | OWNERSHIP INTEREST I N A PROPERTY OR BEGA N CONSTRUCTION OR RE NOVATION 28 | |
| 137 | - | OF A PROPERTY BEFORE JULY 1, 2021, IS NOT ELIGIBLE FOR THE PROGRAM WITH 29 | |
| 138 | - | RESPECT TO THAT PROP ERTY. 30 | |
| 132 | + | (3) THE PROGRAM MAY AWARD AN ELIGIBLE BUSINESS A RENTAL 25 | |
| 133 | + | GRANT NOT EXCEEDING $2,500 FOR EACH MONTH FOR A PERIOD NOT EXCEEDI NG 26 | |
| 134 | + | 12 MONTHS. 27 | |
| 139 | 135 | ||
| 140 | - | (3) THE DEPARTMENT MAY EXCLUD E CERTAIN TYPES OF 31 | |
| 141 | - | BUSINESSES OR NONPROFIT ORGANIZ ATIONS FROM ELIGIBILITY FOR THE 32 | |
| 142 | - | PROGRAM. 33 | |
| 136 | + | (H) (1) SUBJECT TO THE LIMITA TIONS OF THIS SUBSEC TION, THE 28 | |
| 137 | + | PROGRAM MAY AWARD A B USINESS OPERATIONS G RANT TO PROVIDE SALE S AND 29 | |
| 138 | + | USE TAX REBATES TO AN EL IGIBLE BUSINESS FOR THE AMOUNT OF SALES AND USE 30 | |
| 139 | + | TAX COLLECTED BY THE BUSINESS AND PAID TO THE STATE. 31 | |
| 143 | 140 | 4 SENATE BILL 393 | |
| 144 | 141 | ||
| 145 | 142 | ||
| 146 | - | (G) (1) THE PROGRAM MAY AWARD REN TAL GRANTS ONLY TO AN 1 | |
| 147 | - | ELIGIBLE BUSINESS OR NONPROFIT ORGANIZ ATION WITH 50 OR FEWER FULL –TIME 2 | |
| 148 | - | EQUIVALENT EMPLOYEES . 3 | |
| 143 | + | (2) (I) AN ELIGIBLE BUSINESS MAY USE A BUSINESS OPERATIONS 1 | |
| 144 | + | GRANT FOR ACTIVITIES AND COSTS RELATED TO SUSTAINING AND GROWI NG THE 2 | |
| 145 | + | BUSINESS, INCLUDING STAFF COST S, CAPITAL IMPROVEMENTS , MARKETING, 3 | |
| 146 | + | INVENTORY, SUPPLIES, UTILITIES, AND TRAINING. 4 | |
| 149 | 147 | ||
| 150 | - | (2) AN ELIGIBLE BUSINESS OR NONPROFIT ORGANIZ ATION MAY USE 4 | |
| 151 | - | RENTAL GRANT FUNDS A WARDED UNDER THIS SU BSECTION TO SUPPORT THE 5 | |
| 152 | - | PAYMENT OF RENT , MORTGAGE , OR PROPERTY TAXES BASED ON WHETHER THE 6 | |
| 153 | - | BUSINESS OR NONPROFIT ORGANIZ ATION WILL LEASE, WILL PURCHASE , OR 7 | |
| 154 | - | ALREADY OWNS THE VAC ANT PROPERTY THAT TH E BUSINESS OR NONPROFIT 8 | |
| 155 | - | ORGANIZATION WILL OCCUPY. 9 | |
| 148 | + | (II) AN ELIGIBLE BUSINESS MAY NOT USE A BUSINESS 5 | |
| 149 | + | OPERATIONS GRANT FOR THE PAYMENT OF EXECUTIVE SALARIES O R EXECUTIVE 6 | |
| 150 | + | BONUSES. 7 | |
| 156 | 151 | ||
| 157 | - | (3) (I) THE SUBJECT TO SUBPARAGRA PH (II) OF THIS PARAGRAPH , 10 | |
| 158 | - | THE PROGRAM MAY AWARD AN ELIGIBLE BUSINESS OR NONPROFIT ORGANIZ ATION 11 | |
| 159 | - | A RENTAL GRANT NOT E XCEEDING $2,500 FOR EACH MONTH FOR A PERIOD NOT 12 | |
| 160 | - | EXCEEDING 12 MONTHS. 13 | |
| 152 | + | (3) A BUSINESS OPERATIONS GRANT MAY NOT EXCEED $250,000 8 | |
| 153 | + | DURING A 12–MONTH PERIOD . 9 | |
| 161 | 154 | ||
| 162 | - | (II) 1. THE PROGRAM MAY AWARD AN ELIGIBLE SMALL 14 | |
| 163 | - | BUSINESS OR NONPROFI T ORGANIZATION THAT OFFERS HEA LTHY FOOD OPTIONS IN 15 | |
| 164 | - | DESIGNATED FOOD DESE RT AREAS OR SUSTAINA BLE COMMUNITIES UNDE R TITLE 6 16 | |
| 165 | - | OF THIS ARTICLE A RE NTAL GRANT NOT EXCEE DING $2,500 FOR EACH MONTH FOR 17 | |
| 166 | - | A PERIOD NOT EXCEEDI NG 5 YEARS. 18 | |
| 155 | + | (4) THE PROGRAM MAY AWARD A BUSINESS OPERATIONS GRANT FOR: 10 | |
| 167 | 156 | ||
| 168 | - | 2. A SMALL BUSINESS OR NO NPROFIT ORGANIZATION 19 | |
| 169 | - | AWARDED A G RANT UNDER SUBSUBPAR AGRAPH 1 OF THIS SUBPARAGRAPH MAY 20 | |
| 170 | - | SUBMIT AN APPLICATIO N TO RENEW THE RENTA L GRANT. 21 | |
| 157 | + | (I) A PERIOD NOT EXCEEDI NG 2 YEARS FOR A BUSINESS THAT 11 | |
| 158 | + | IS LOCATED IN: 12 | |
| 171 | 159 | ||
| 172 | - | (H) (1) SUBJECT TO THE LIMITA TIONS OF THIS SUBSEC TION, THE 22 | |
| 173 | - | PROGRAM MAY AWARD A B USINESS OPERATIONS G RANT TO PROVIDE SALE S AND 23 | |
| 174 | - | USE TAX REBATES TO A N ELIGIBLE BUSINESS OR NONPROFIT ORGANIZ ATION FOR 24 | |
| 175 | - | THE AMOUNT OF SALES AND USE TAX COLLECTE D BY THE BUSINESS OR NONPROFIT 25 | |
| 176 | - | ORGANIZATION AND PAID TO THE STATE. 26 | |
| 160 | + | 1. A TIER I AREA, AS DEFINED IN § 6–801 OF THE 13 | |
| 161 | + | ECONOMIC DEVELOPMENT ARTICLE; OR 14 | |
| 177 | 162 | ||
| 178 | - | (2) (I) AN ELIGIBLE BUSINESS OR NONPROFIT ORGANIZ ATION MAY 27 | |
| 179 | - | USE A BUSINESS OPERA TIONS GRANT FOR ACTI VITIES AND COSTS RELA TED TO 28 | |
| 180 | - | SUSTAINING AND GROWI NG THE BUSINESS OR NONPROFIT ORGANIZ ATION, 29 | |
| 181 | - | INCLUDING STAFF COST S, CAPITAL IMPROVEMENTS , MARKETING, INVENTORY, 30 | |
| 182 | - | SUPPLIES, UTILITIES, AND TRAINING. 31 | |
| 163 | + | 2. A LOCATION DESIGNATE D BY THE DEPARTMENT AS A 15 | |
| 164 | + | MAIN STREET MARYLAND COMMUNITY; OR 16 | |
| 183 | 165 | ||
| 184 | - | (II) AN ELIGIBLE BUSINESS OR NONPROFIT ORGANIZ ATION MAY 32 | |
| 185 | - | NOT USE A BUSINESS OPERA TIONS GRANT FOR THE PAYMENT OF EXECUTIVE 33 | |
| 186 | - | SALARIES OR EXECUTIV E BONUSES. 34 | |
| 166 | + | (II) A PERIOD NOT EXCEEDI NG 1 YEAR FOR A BUSINESS THAT IS 17 | |
| 167 | + | NOT LOCATED IN AN AR EA DESCRIBED UNDER ITEM (I) OF THIS PARAGRAPH . 18 | |
| 187 | 168 | ||
| 188 | - | (3) A BUSINESS OPERATIONS GRANT MAY NOT EXCEED $250,000 35 | |
| 189 | - | DURING A 12–MONTH PERIOD . 36 SENATE BILL 393 5 | |
| 169 | + | (I) THE DEPARTMENT MAY ADOPT REGULATIONS TO CARRY OUT THE 19 | |
| 170 | + | PROGRAM. 20 | |
| 171 | + | ||
| 172 | + | 6–1102. 21 | |
| 173 | + | ||
| 174 | + | (A) IN THIS SECTION, “FUND” MEANS THE PROJECT RESTORE FUND. 22 | |
| 175 | + | ||
| 176 | + | (B) THERE IS A PROJECT RESTORE FUND. 23 | |
| 177 | + | ||
| 178 | + | (C) THE PURPOSE OF THE FUND IS TO FUND RENTAL GRANTS AND 24 | |
| 179 | + | BUSINESS OPERATION S GRANTS AWARDED UNDER THE PROJECT RESTORE 25 | |
| 180 | + | PROGRAM IN ACCORDANCE WITH § 6–1101 OF THIS SUBTITLE. 26 | |
| 181 | + | ||
| 182 | + | (D) THE DEPARTMENT SHALL ADMI NISTER THE FUND. 27 | |
| 183 | + | ||
| 184 | + | (E) (1) THE FUND IS A SPECIAL, NONLAPSING FUND THAT IS NOT 28 | |
| 185 | + | SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 29 SENATE BILL 393 5 | |
| 190 | 186 | ||
| 191 | 187 | ||
| 192 | 188 | ||
| 193 | - | (4) THE PROGRAM MAY AWARD A B USINESS OPERATIONS G RANT FOR: 1 | |
| 189 | + | (2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY, 1 | |
| 190 | + | AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 2 | |
| 194 | 191 | ||
| 195 | - | (I) A PERIOD NOT EXCEEDING 2 YEARS FOR A BUSINESS OR 2 | |
| 196 | - | NONPROFIT ORGANIZATI ON THAT IS LOCATED IN : 3 | |
| 192 | + | (F) THE FUND CONSISTS OF: 3 | |
| 197 | 193 | ||
| 198 | - | 1. A TIER I AREA, AS DEFINED IN § 6–801 OF THE 4 | |
| 199 | - | ECONOMIC DEVELOPMENT ARTICLE; OR 5 | |
| 194 | + | (1) MONEY APPROPRIATED I N THE STATE BUDGET TO THE FUND; 4 | |
| 200 | 195 | ||
| 201 | - | 2. A LOCATION DESIGNATE D BY THE DEPARTMENT AS A 6 | |
| 202 | - | MAIN STREET MARYLAND COMMUNITY; OR 7 | |
| 196 | + | (2) INTEREST EARNINGS; AND 5 | |
| 203 | 197 | ||
| 204 | - | (II) A PERIOD NOT EXCEEDI NG 1 YEAR FOR A BUSINESS OR 8 | |
| 205 | - | NONPROFIT ORGANIZATI ON THAT IS NOT LOCATED IN AN AREA DESCRIBED UNDER 9 | |
| 206 | - | ITEM (I) OF THIS PARAGRAPH ; OR 10 | |
| 198 | + | (3) ANY OTHER MONEY FROM ANY OTHER SOURCE ACCEPTE D FOR 6 | |
| 199 | + | THE BENEFIT OF THE FUND. 7 | |
| 207 | 200 | ||
| 208 | - | (III) A PERIOD NOT EXCEEDI NG 5 YEARS FOR A SMALL BU SINESS 11 | |
| 209 | - | OR NONPROFIT ORGANIZ ATION THAT OFFER S HEALTHY FOOD OPTIO NS IN 12 | |
| 210 | - | DESIGNATED FOOD DESE RT AREAS OR SUSTAINA BLE COMMUNITIES UNDE R TITLE 6 13 | |
| 211 | - | OF THIS ARTICLE. 14 | |
| 201 | + | (G) THE FUND MAY BE USED ONLY : 8 | |
| 212 | 202 | ||
| 213 | - | (5) A SMALL BUSINESS OR NO NPROFIT ORGANIZATION AWARDED A 15 | |
| 214 | - | GRANT UNDER PARAGRAP H (4)(III) OF THIS SUBSECTION M AY SUBMIT AN 16 | |
| 215 | - | APPLICATION TO RENE W THE BUSINESS OPERA TIONS GRANT. 17 | |
| 203 | + | (1) FOR THE PURPOSES DES CRIBED UNDER SUBSECT ION (C) OF THIS 9 | |
| 204 | + | SECTION; AND 10 | |
| 216 | 205 | ||
| 217 | - | (I) THE DEPARTMENT MAY ADOPT REGULATIONS TO CARRY OUT THE 18 | |
| 218 | - | PROGRAM. 19 | |
| 206 | + | (2) TO PAY THE COSTS NEC ESSARY TO ADMINISTER THE FUND. 11 | |
| 219 | 207 | ||
| 220 | - | (J) ON OR BEFORE NOVEMBER 1, 2023, AND EACH NOVEMBER 1 20 | |
| 221 | - | THEREAFTER , THE DEPARTMENT SHALL SUBM IT A REPORT TO THE SENATE 21 | |
| 222 | - | EDUCATION, HEALTH, AND ENVIRONMENTAL AFFAIRS COMMITTEE AND THE 22 | |
| 223 | - | HOUSE COMMITTEE ON WAYS AND MEANS, IN ACCORDANCE WITH § 2–1257 OF THE 23 | |
| 224 | - | STATE GOVERNMENT ARTICLE, ON THE FOLLOWING FOR THE IMMEDIATELY 24 | |
| 225 | - | PRECEDING REPORTING PERIOD: 25 | |
| 208 | + | (H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 12 | |
| 209 | + | IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 13 | |
| 226 | 210 | ||
| 227 | - | ( | |
| 228 | - | ||
| 211 | + | (2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITED TO 14 | |
| 212 | + | THE FUND. 15 | |
| 229 | 213 | ||
| 230 | - | (2) THE AMOUNT OF GRANT MONEY AWARDED ; 28 | |
| 214 | + | (I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 16 | |
| 215 | + | WITH THE STATE BUDGET . 17 | |
| 231 | 216 | ||
| 232 | - | (3) THE AMOUNT OF GRANT MONEY RECEIVED BY EA CH COUNTY; AND 29 | |
| 217 | + | (J) MONEY EXPENDED FROM T HE FUND IS SUPPLEMENTAL TO A ND IS NOT 18 | |
| 218 | + | INTENDED TO TAKE THE PLACE OF FUNDING THA T OTHERWISE WOULD BE 19 | |
| 219 | + | APPROPRIATED FOR BUS INESS–RELATED GRANTS . 20 | |
| 233 | 220 | ||
| 234 | - | (4) THE TYPE OF ORGANIZA TIONS THAT RECEIVED GRANT MONEY 30 | |
| 235 | - | AND IN WHAT AMOUNTS . 31 6 SENATE BILL 393 | |
| 221 | + | Article – State Finance and Procurement 21 | |
| 222 | + | ||
| 223 | + | 6–226. 22 | |
| 224 | + | ||
| 225 | + | (a) (2) (i) Notwithstanding any other provision of law, and unless 23 | |
| 226 | + | inconsistent with a federal law, grant agreement, or other federal requirement or with the 24 | |
| 227 | + | terms of a gift or settlement agreement, net interest on all State money allocated by the 25 | |
| 228 | + | State Treasurer under this section to special funds or accounts, and otherwise entitled to 26 | |
| 229 | + | receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 27 | |
| 230 | + | Fund of the State. 28 | |
| 231 | + | 6 SENATE BILL 393 | |
| 236 | 232 | ||
| 237 | 233 | ||
| 234 | + | (ii) The provisions of subparagraph (i) of this paragraph do not apply 1 | |
| 235 | + | to the following funds: 2 | |
| 238 | 236 | ||
| 239 | - | 6–1102. 1 | |
| 237 | + | 144. the Health Equity Resource Community Reserve Fund; 3 | |
| 238 | + | [and] 4 | |
| 240 | 239 | ||
| 241 | - | | |
| 240 | + | 145. the Access to Counsel in Evictions Special Fund; AND 5 | |
| 242 | 241 | ||
| 243 | - | | |
| 242 | + | 146. THE PROJECT RESTORE FUND. 6 | |
| 244 | 243 | ||
| 245 | - | (C) THE PURPOSE OF THE FUND IS TO FUND RENTA L GRANTS AND 4 | |
| 246 | - | BUSINESS OPERATIONS GRANTS AWARDED UNDER THE PROJECT RESTORE 5 | |
| 247 | - | PROGRAM IN ACCORDANCE WITH § 6–1101 OF THIS SUBTITLE. 6 | |
| 244 | + | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 7 | |
| 245 | + | October 1, 2022. 8 | |
| 248 | 246 | ||
| 249 | - | (D) THE DEPARTMENT SHALL ADMI NISTER THE FUND. 7 | |
| 250 | - | ||
| 251 | - | (E) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 8 | |
| 252 | - | SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 9 | |
| 253 | - | ||
| 254 | - | (2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 10 | |
| 255 | - | AND THE COMPTROLLER SHALL A CCOUNT FOR THE FUND. 11 | |
| 256 | - | ||
| 257 | - | (F) THE FUND CONSISTS OF : 12 | |
| 258 | - | ||
| 259 | - | (1) MONEY APPROPRIATED I N THE STATE BUDGET TO THE FUND; 13 | |
| 260 | - | ||
| 261 | - | (2) INTEREST EARNINGS ; AND 14 | |
| 262 | - | ||
| 263 | - | (3) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 15 | |
| 264 | - | THE BENEFIT OF THE FUND. 16 | |
| 265 | - | ||
| 266 | - | (G) THE FUND MAY BE USED ONLY : 17 | |
| 267 | - | ||
| 268 | - | (1) FOR THE PURPOSES DES CRIBED UNDER SUBSECT ION (C) OF THIS 18 | |
| 269 | - | SECTION; AND 19 | |
| 270 | - | ||
| 271 | - | (2) TO PAY THE COSTS NEC ESSARY TO ADMINISTER THE FUND. 20 | |
| 272 | - | ||
| 273 | - | (H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 21 | |
| 274 | - | IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 22 | |
| 275 | - | ||
| 276 | - | (2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITE D TO 23 | |
| 277 | - | THE FUND. 24 | |
| 278 | - | ||
| 279 | - | (I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 25 | |
| 280 | - | WITH THE STATE BUDGET . 26 | |
| 281 | - | SENATE BILL 393 7 | |
| 282 | - | ||
| 283 | - | ||
| 284 | - | (J) MONEY EXPENDED FROM T HE FUND IS SUPPLEMENTAL TO AND IS NOT 1 | |
| 285 | - | INTENDED TO TAKE THE PLACE OF FUND ING THAT OTHERWISE W OULD BE 2 | |
| 286 | - | APPROPRIATED FOR BUSINESS –RELATED AS GRANTS FOR BUSINESSES OR 3 | |
| 287 | - | NONPROFIT ORGANIZATI ONS. 4 | |
| 288 | - | ||
| 289 | - | Article – State Finance and Procurement 5 | |
| 290 | - | ||
| 291 | - | 6–226. 6 | |
| 292 | - | ||
| 293 | - | (a) (2) (i) Notwithstanding any other provision of law, and unless 7 | |
| 294 | - | inconsistent with a federal law, grant agreement, or other federal requirement or with the 8 | |
| 295 | - | terms of a gift or settlement agreement, net interest on all State money allocated by the 9 | |
| 296 | - | State Treasurer under this section to special funds or accounts, and otherwise entitled to 10 | |
| 297 | - | receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 11 | |
| 298 | - | Fund of the State. 12 | |
| 299 | - | ||
| 300 | - | (ii) The provisions of subparagraph (i) of this paragraph do not apply 13 | |
| 301 | - | to the following funds: 14 | |
| 302 | - | ||
| 303 | - | 144. the Health Equity Resource Community Reserve Fund; 15 | |
| 304 | - | [and] 16 | |
| 305 | - | ||
| 306 | - | 145. the Access to Counsel in Evictions Special Fund; AND 17 | |
| 307 | - | ||
| 308 | - | 146. THE PROJECT RESTORE FUND. 18 | |
| 309 | - | ||
| 310 | - | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 19 | |
| 311 | - | October 1, 2022. It shall remain effective for a period of 5 years and, at the end of September 20 | |
| 312 | - | 30, 2027, this Act, with no further action required by the General Assembly, shall be 21 | |
| 313 | - | abrogated and of no further force and effect. 22 | |
| 314 | - | ||
| 315 | - | ||
| 316 | - | ||
| 317 | - | ||
| 318 | - | Approved: | |
| 319 | - | ________________________________________________________________________________ | |
| 320 | - | Governor. | |
| 321 | - | ________________________________________________________________________________ | |
| 322 | - | President of the Senate. | |
| 323 | - | ________________________________________________________________________________ | |
| 324 | - | Speaker of the House of Delegates. |