EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*sb0861*
SENATE BILL 861
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By: Senator Corderman
Introduced and read first time: January 28, 2025
Assigned to: Finance and Budget and Taxation
A BILL ENTITLED
AN ACT concerning 1
Economic Development – Western Maryland Economic Future Investment 2
Board and Senator George C. Edwards Fund – Alterations 3
FOR the purpose of altering the composition of the Western Maryland Economic Future 4
Investment Board; providing that the Executive Director serves as a nonvoting 5
member of the Board, except under a certain circumstance; altering the purpose of 6
the Senator George C. Edwards Fund; extending the fiscal years in which the 7
Governor is required to include a certain appropriation in the annual budget bill to 8
the Fund; altering the criteria that the Board must consider when awarding certain 9
grant and loan funding from the Fund; and generally relating to the Western 10
Maryland Economic Future Investment Board and the Senator George C. Edwards 11
Fund. 12
BY repealing and reenacting, with amendments, 13
Article – Economic Development 14
Section 13–737, 13–739, and 13–740 15
Annotated Code of Maryland 16
(2024 Replacement Volume and 2024 Supplement) 17
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 18
That the Laws of Maryland read as follows: 19
Article – Economic Development 20
13–737. 21
(a) There is a Western Maryland Economic Future Investment Board. 22
(b) The Board consists of the following members: 23
2 SENATE BILL 861
[(1) one representative from the Department of Commerce, appointed by the 1
Secretary of Commerce, who shall serve as a nonvoting member; 2
(2) one representative of an economic development organization in each 3
member county, appointed by each member county’s respective commissioners, who shall 4
serve as a nonvoting member; 5
(3) one representative from District 1, appointed by the Speaker of the 6
House, in consultation with the District 1 delegation to the Maryland General Assembly; 7
(4) one representative from District 2, appointed by the President of the 8
Senate, in consultation with the District 2 delegation to the Maryland General Assembly; 9
(5) one county commissioner from each member county; 10
(6) one representative from District 1, appointed by the President of the 11
Senate, in consultation with the District 1 delegation to the Maryland General Assembly, 12
who shall serve as a nonvoting member; 13
(7) one representative from District 2, in consultation with the District 2 14
delegation to the Maryland General Assembly, appointed by the Speaker of the House, who 15
shall serve as a nonvoting member; 16
(8) the State Senator representing District 1, who shall serve as an ex 17
officio nonvoting member; 18
(9) the State Senator representing District 2, who shall serve as an ex 19
officio nonvoting member; 20
(10) a member of the House of Delegates representing a subdistrict in 21
District 1, appointed by the Speaker of the House, who shall serve as an ex officio nonvoting 22
member; and 23
(11) a member of the House of Delegates representing a subdistrict in 24
District 2, appointed by the Speaker of the House, who shall serve as an ex officio nonvoting 25
member] 26
(1) ONE REPRESENTATIVE F ROM DISTRICT 1, APPOINTED BY THE 27
SPEAKER OF THE HOUSE, IN CONSULTATION WITH THE DISTRICT 1 DELEGATION TO 28
THE MARYLAND GENERAL ASSEMBLY; 29
(2) ONE REPRESENTATIVE F ROM DISTRICT 1, APPOINTED BY THE 30
PRESIDENT OF THE SENATE, IN CONSULTATION WITH THE DISTRICT 1 DELEGATION 31
TO THE MARYLAND GENERAL ASSEMBLY; 32
SENATE BILL 861 3
(3) ONE REPRESENTATIVE F ROM DISTRICT 2, APPOINTED BY THE 1
SPEAKER OF THE HOUSE, IN CONSULTATION WITH THE DISTRICT 2 DELEGATION TO 2
THE MARYLAND GENERAL ASSEMBLY; 3
(4) ONE REPRESENTATIVE F ROM DISTRICT 2, APPOINTED BY THE 4
PRESIDENT OF THE SENATE, IN CONSULTATION WITH THE DISTRICT 2 DELEGATION 5
TO THE MARYLAND GENERAL ASSEMBLY; AND 6
(5) THE EXECUTIVE DIRECTOR, AS A NONVOTING MEMBE R, EXCEPT 7
THAT THE EXECUTIVE DIRECTOR MAY VOTE TO BREAK A TIE ON ANY I TEM VOTED 8
BY THE BOARD. 9
(c) The voting members of the Board may elect a chair from among the Board’s 10
members. 11
(d) The Council shall provide staff for the Board. 12
(e) A member of the Board: 13
(1) may not receive compensation as a member of the Board; but 14
(2) is entitled to reimbursement for expenses under the Standard State 15
Travel Regulations, as provided in the State budget. 16
(f) The voting members of the Board shall have final approval authority on: 17
(1) disbursements from the Fund; and 18
(2) projects selected in accordance with § 13–740 of this subtitle. 19
13–739. 20
(a) There is a Senator George C. Edwards Fund. 21
(b) The purpose of the Fund is to provide grant or loan funding to [capital 22
infrastructure projects and business development projects that improve the economic 23
conditions] CREATE JOBS AND SIGN IFICANT ECONOMIC DEV ELOPMENT 24
OPPORTUNITIE S in the region. 25
(c) The Council shall administer the Fund. 26
(d) (1) The Fund consists of: 27
(i) appropriations as provided in the State budget; 28
4 SENATE BILL 861
(ii) interest or other income earned on the investment of money in 1
the Fund; and 2
(iii) any other money accepted for the benefit of the Fund. 3
(2) In each of fiscal years 2024 through [2026] 2031, the Governor shall 4
include in the annual operating or capital budget bill an appropriation of at least 5
$10,000,000 to the Fund. 6
(e) Money in the Fund may be used only to: 7
(1) award grants and provide loans [to capital infrastructure projects and 8
business development projects to improve the economic conditions in the region] IN 9
ACCORDANCE WITH § 13–740 OF THIS SUBTITLE ; and 10
(2) pay the costs necessary to administer the Fund, including paying the 11
salary of the Executive Director. 12
(f) (1) The Fund is a special, nonlapsing fund that is not subject to reversion 13
under § 7–302 of the State Finance and Procurement Article. 14
(2) The State Treasurer shall hold the Fund separately, and the 15
Comptroller shall account for the Fund. 16
(3) The State Treasurer shall invest the money in the Fund in the same 17
manner as other State money may be invested. 18
(4) Any investment earnings of the Fund shall be credited to the Fund. 19
13–740. 20
(a) A member county or local entity within a member county may submit a 21
proposal for funding under this part. 22
(b) To qualify for funding, a project shall be: 23
(1) a capital infrastructure project that: 24
(i) is linked to economic development in the region, as approved by 25
the Board; and 26
(ii) receives 20% matching funds from the member county where the 27
project is located, another local entity, a private business, or a combination thereof; 28
(2) a business development project that: 29
SENATE BILL 861 5
(i) encourages and promotes downtown neighborhood 1
revitalization, small business tourism, or other areas as approved by the Board; and 2
(ii) receives 10% matching funds from the member county where the 3
project is located, another local entity, a private business, or a combination thereof; or 4
(3) any other project that the Board determines is appropriate to promote 5
economic development in the region. 6
(c) (1) (i) The Board shall develop criteria to review, evaluate, and rate 7
project proposals for funding under this part. 8
(ii) The criteria in subparagraph (i) of this paragraph shall ensure 9
that the project: 10
1. EXCEPT AS PROVIDED I N ITEM 2 OF THIS 11
SUBPARAGRAPH , creates or retains AT LEAST 25 jobs; 12
2. creates or retains [businesses] AT LEAST 10 JOBS EACH 13
WITH WAGES THAT MEET OR EXCEED 150% OF THE MEDIAN HOUSEH OLD INCOME 14
FOR THE MEMBER COUNT Y IN WHICH THE PROJE CT IS LOCATED, AS DETERMINED 15
BY THE MOST RECENT A VAILABLE DATA FROM T HE STATE; OR 16
3. [increases wages; or 17
4.] creates [new State or local tax revenue] SIGNIFICANT 18
POPULATION GROWTH IN THE COUNTY OR MUNICI PALITY IN WHICH THE PROJECT IS 19
LOCATED, AS CERTIFIED IN WRIT ING TO THE BOARD BY THE COUNTY 20
COMMISSIONERS FOR TH E MEMBER COUNTY OR T HE MUNICIPAL GOVERNM ENT FOR 21
THE MUNICIPALITY IN WHICH TH E PROJECT IS LOCATED . 22
(2) (i) The Board shall choose which projects to award grants and loans 23
to based on the criteria developed in accordance with paragraph (1) of this subsection. 24
(ii) The Board or the Executive Director shall distribute grants and 25
loans to projects based on the decisions made by the Board in accordance with 26
subparagraph (i) of this paragraph. 27
(d) (1) The Board or the Executive Director shall monitor and track the 28
progress of each project that receives funding under this part. 29
(2) If the Board determines that sufficient progress is not being made 30
toward achieving the requirements of this section, the Board may reclaim the awarded 31
funds. 32
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(e) The funding provided in this section shall be used to supplement and not 1
supplant any funds that would otherwise be provided to the Board or the member counties. 2
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 3
1, 2025. 4