WES MOORE, Governor Ch. 475
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Chapter 475
(Senate Bill 53)
AN ACT concerning
Maryland Nonprofit Development Center Program – Nonprofit, Interest–Free,
Micro Bridge Loan (NIMBL) Account – Funding
FOR the purpose of altering, beginning in a certain fiscal year, the percentage to be paid
by the Comptroller from the Small, Minority, and Women –Owned Businesses
Account to the Nonprofit, Interest–Free, Micro Bridge Loan (NIMBL) Account within
the Maryland Nonprofit Development Center Program Fund; requiring the Governor
to include in the annual budget bill a certain appropriation for a certain fiscal year
for the Fund to be used for certain loans under the NIMBL Account requiring the
Governor to include in the annual budget bill a certain appropriation for a certain
fiscal year, or a certain alternative fiscal year, for the Maryland Nonprofit
Development Center Program Fund to be used for loans under the Nonprofit,
Interest–Free, Micro Bridge Loan (NIMBL) Account; repealing a requirement that a
certain amount of proceeds from video lottery terminals go to a certain account; and
generally relating to the Maryland Nonprofit Development Center Program.
BY repealing and reenacting, without with amendments,
Article – Economic Development
Section 5–1204(a)(1) 5–1204
Annotated Code of Maryland
(2018 Replacement Volume and 2022 Supplement)
BY repealing and reenacting, with amendments,
Article – State Government
Section 9–1A–27(a)(6)
Annotated Code of Maryland
(2021 Replacement Volume and 2022 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND,
That the Laws of Maryland read as follows:
Article – Economic Development
5–1204.
(a) (1) (i) There is a Maryland Nonprofit Development Center Program
Fund in the Department.
(ii) 1. Within the Fund, there is a Nonprofit, Interest–Free,
Micro Bridge Loan (NIMBL) Account.
Ch. 475 2023 LAWS OF MARYLAND
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2. The Account consists of:
A. money received under § 9–1A–27 of the State Government
Article; and
B. any other money appropriated, transferred by budget
amendment, or repaid to the Account.
3. The money in the Account may not exceed $1,000,000.
4. If the money in the Account exceeds $1,000,000, any
money in excess of that amount shall be transferred to the Small, Minority, and
Women–Owned Businesses Account established under § 5–1501 of this title.
(2) The Fund is a special, nonlapsing fund that is not subject to reversion
under § 7–302 of the State Finance and Procurement Article.
(3) The Fund consists of:
(i) money appropriated in the State budget to the Fund;
(ii) money in the Nonprofit, Interest–Free, Micro Bridge Loan
(NIMBL) Account; and
(iii) all other money accepted for the benefit of the Fund, including
an additional $50 fee to be paid for the processing of articles of incorporation of a nonstock
corporation in accordance with § 1–203 of the Corporations and Associations Article.
(b) (1) The purpose of the Fund is to provide grant money and bridge loans to
support the operations of the Program consistent with this subtitle.
(2) As provided in the State budget, the Fund also may be used by the
Department of General Services to evaluate the participation of nonprofit entities in State
procurement.
(C) (1) FOR FISCAL YEAR 2024, THE GOVERNOR SHALL INCLUD E IN THE
ANNUAL BUDGET BILL A N APPROPRIATION OF $1,000,000 TO THE FUND TO BE USED
FOR LOANS UNDER THE NIMBL ACCOUNT.
(2) IF $1,000,000 IS NOT INCLUDED IN T HE ANNUAL BUDGET BIL L
FOR FISCAL YEAR 2024, THEN THE GOVERNOR SHALL INCLUD E IN THE ANNUAL
BUDGET BILL FOR FISC AL YEAR 2025 AN APPROPRIATION OF $1,000,000 TO BE USED
FOR LOANS UNDER THE NIMBL ACCOUNT.
Article – State Government WES MOORE, Governor Ch. 475
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9–1A–27.
(a) Except as provided in subsections (b) and (c) of this section and §
9–1A–26(a)(3) of this subtitle, on a properly approved transmittal prepared by the
Commission, the Comptroller shall pay the following amounts from the proceeds of video
lottery terminals at each video lottery facility:
(6) (i) except as provided in items (ii) and (iii) of this item, 1.5% to the
Small, Minority, and Women–Owned Businesses Account established under § 5–1501 of
the Economic Development Article;
(ii) for fiscal year 2018, 1.5% to the General Fund to pay a portion of
the costs of the grants provided under Chapters 6 and 607 of the Acts of the General
Assembly of 2017; AND
(iii) for fiscal years 2019 and 2020, 1.5% to the Education Trust Fund
established under § 9–1A–30 of this subtitle; and
(iv) beginning in fiscal year [2021] 2024, from the amount paid to
the Small, Minority, and Women–Owned Businesses Account under item (i) of this item,
[up to] 5%, not to exceed $1,000,000, to the Nonprofit, Interest–Free, Micro Bridge Loan
(NIMBL) Account established under § 5–1204 of the Economic Development Article;
SECTION 2. AND BE IT FURTHER ENACTED, That, for fiscal year 2025, the
Governor shall include in the annual budget bill a General Fund appropriation of
$1,000,000 to the Maryland Nonprofit Development Center Program Fund (T00F00.11)
within the Department of Commerce to be used for loans made under the Nonprofit,
Interest–Free, Micro Bridge Loan Account under Title 5, Subtitle 12 of the Economic
Development Article.
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect July
1, 2023.
Approved by the Governor, May 8, 2023.