EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
Italics indicate opposite chamber/conference committee amendments.
*sb0861*
SENATE BILL 861
C8 (5lr3031)
ENROLLED BILL
— Budget and Taxation and Finance/Ways and Means —
Introduced by Senator Corderman
Read and Examined by Proofreaders:
_______________________________________________
Proofreader.
_______________________________________________
Proofreader.
Sealed with the Great Seal and presented to the Governor, for his approval this
_______ day of _______________ at ________________ ________ o’clock, ________M.
______________________________________________
President.
CHAPTER ______
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 may include a certain appropriation in the annual budget 8
bill to the Fund; altering the criteria that the Board must consider when awarding 9
certain 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 2 SENATE BILL 861
Section 13–737, 13–739, and 13–740 1
Annotated Code of Maryland 2
(2024 Replacement Volume and 2024 Supplement) 3
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 4
That the Laws of Maryland read as follows: 5
Article – Economic Development 6
13–737. 7
(a) There is a Western Maryland Economic Future Investment Board. 8
(b) The Board consists of the following members: 9
[(1) one representative from the Department of Commerce, appointed by the 10
Secretary of Commerce, who shall serve as a nonvoting member; 11
(2) one representative of an economic development organization in each 12
member county, appointed by each member county’s respective commissioners, who shall 13
serve as a nonvoting member; 14
(3) one representative from District 1, appointed by the Speaker of the 15
House, in consultation with the District 1 delegation to the Maryland General Assembly; 16
(4) one representative from District 2, appointed by the President of the 17
Senate, in consultation with the District 2 delegation to the Maryland General Assembly; 18
(5) one county commissioner from each member county; 19
(6) one representative from District 1, appointed by the President of the 20
Senate, in consultation with the District 1 delegation to the Maryland General Assembly, 21
who shall serve as a nonvoting member; 22
(7) one representative from District 2, in consultation with the District 2 23
delegation to the Maryland General Assembly, appointed by the Speaker of the House, who 24
shall serve as a nonvoting member; 25
(8) the State Senator representing District 1, who shall serve as an ex 26
officio nonvoting member; 27
(9) the State Senator representing District 2, who shall serve as an ex 28
officio nonvoting member; 29
(10) a member of the House of Delegates representing a subdistrict in 30
District 1, appointed by the Speaker of the House, who shall serve as an ex officio nonvoting 31
member; and 32 SENATE BILL 861 3
(11) a member of the House of Delegates representing a subdistrict in 1
District 2, appointed by the Speaker of the House, who shall serve as an ex officio nonvoting 2
member] 3
(1) ONE REPRESENTATIVE F ROM DISTRICT 1, APPOINTED BY THE 4
SPEAKER OF THE HOUSE, IN CONSULTATION WITH THE DISTRICT 1 DELEGATION TO 5
THE MARYLAND GENERAL ASSEMBLY; 6
(2) ONE REPRESENTATIVE F ROM DISTRICT 1, APPOINTED BY THE 7
PRESIDENT OF THE SENATE, IN CONSULTATION WITH THE DISTRICT 1 DELEGATION 8
TO THE MARYLAND GENERAL ASSEMBLY; 9
(3) ONE REPRESENTATIVE F ROM DISTRICT 2, APPOINTED BY THE 10
SPEAKER OF THE HOUSE, IN CONSULTA TION WITH THE DISTRICT 2 DELEGATION TO 11
THE MARYLAND GENERAL ASSEMBLY; 12
(4) ONE REPRESENTATIVE F ROM DISTRICT 2, APPOINTED BY THE 13
PRESIDENT OF THE SENATE, IN CONSULTATION WITH THE DISTRICT 2 DELEGATION 14
TO THE MARYLAND GENERAL ASSEMBLY; AND 15
(5) THE EXECUTIVE DIRECTOR, AS A NONVOTING MEMBE R, EXCEPT 16
THAT THE EXECUTIVE DIRECTOR MAY VOTE TO BREAK A TIE ON ANY I TEM VOTED 17
BY THE BOARD. 18
(c) The voting members of the Board may elect a chair from among the Board’s 19
members. 20
(d) The Council shall provide staff for the Board. 21
(e) A member of the Board: 22
(1) may not receive compensation as a member of the Board; but 23
(2) is entitled to reimbursement for expenses under the Standard State 24
Travel Regulations, as provided in the State budget. 25
(f) The voting members of the Board shall have final approval authority on: 26
(1) disbursements from the Fund; and 27
(2) projects selected in accordance with § 13–740 of this subtitle. 28
(G) A MEMBER OF THE MARYLAND GENERAL ASSEMBLY MAY NOT SERV E AS 29
A MEMBER OF THE BOARD. 30 4 SENATE BILL 861
13–739. 1
(a) There is a Senator George C. Edwards Fund. 2
(b) The purpose of the Fund is to provide grant or loan funding to [capital 3
infrastructure projects and business development projects that improve the economic 4
conditions] CREATE JOBS AND SIGN IFICANT ECONOMIC DEV ELOPMENT 5
OPPORTUNITIES in the region. 6
(c) The Council shall administer the Fund. 7
(d) (1) The Fund consists of: 8
(i) appropriations as provided in the State budget; 9
(ii) interest or other income earned on the investment of money in 10
the Fund; and 11
(iii) any other money accepted for the benefit of the Fund. 12
(2) (I) In each of fiscal years 2024 through [2026] 2031, the Governor 13
shall include in the annual operating or capital budget bill an appropriation of at least 14
$10,000,000 to the Fund. 15
(II) IN EACH OF FISCAL YEA RS 2027 THROUGH 2031, THE 16
GOVERNOR MAY INCLUDE IN THE ANNUAL OPERAT ING OR CAPITAL BUDGE T BILL AN 17
APPROPRIATION OF AT LEAST $10,000,000 TO THE FUND. 18
(e) Money in the Fund may be used only to: 19
(1) award grants and provide loans [to capital infrastructure projects and 20
business development projects to improve the economic conditions in the region] IN 21
ACCORDANCE WITH § 13–740 OF THIS SUBTITLE ; and 22
(2) pay the costs necessary to administer the Fund, including paying the 23
salary of the Executive Director. 24
(f) (1) The Fund is a special, nonlapsing fund that is not subject to reversion 25
under § 7–302 of the State Finance and Procurement Article. 26
(2) The State Treasurer shall hold the Fund separately, and the 27
Comptroller shall account for the Fund. 28
(3) The State Treasurer shall invest the money in the Fund in the same 29
manner as other State money may be invested. 30 SENATE BILL 861 5
(4) Any investment earnings of the Fund shall be credited to the Fund. 1
13–740. 2
(a) A member county or local entity within a member county may submit a 3
proposal for funding under this part. 4
(b) To qualify for funding, a project shall be: 5
(1) a capital infrastructure project that: 6
(i) is linked to economic development in the region, as approved by 7
the Board; and 8
(ii) receives 20% matching funds from the member county where the 9
project is located, another local entity, a private business, or a combination thereof; 10
(2) a business development project that: 11
(i) encourages and promotes downtown neighborhood 12
revitalization, small business tourism, or other areas as approved by the Board; and 13
(ii) receives 10% matching funds from the member county where the 14
project is located, another local entity, a private business, or a combination thereof; or 15
(3) any other project that the Board determines is appropriate to promote 16
economic development in the region. 17
(c) (1) (i) The Board shall develop criteria to review, evaluate, and rate 18
project proposals for funding under this part. 19
(ii) The criteria in subparagraph (i) of this paragraph shall ensure 20
that the project: 21
1. EXCEPT AS PROVIDED I N ITEM 2 OF THIS 22
SUBPARAGRAPH , creates or retains AT LEAST 25 jobs; 23
2. creates or retains [businesses] AT LEAST 10 JOBS EACH 24
WITH WAGES THAT MEET OR EXCEED 150% OF THE MEDIAN HOUSEH OLD INCOME 25
FOR THE MEMBER COUNT Y IN WHICH THE PROJE CT IS LOCATED, AS DETERMINED 26
BY THE MOST RECENT A VAILABLE DATA FROM T HE STATE EXCEED 120% OF THE 27
STATE MINIMUM WAGE ; OR 28
3. [increases wages; or 29
6 SENATE BILL 861
4.] creates [new State or local tax revenue] SIGNIFICANT 1
POPULATION GROWTH IN THE COUNTY OR MUNICI PALITY IN WHICH THE PROJECT IS 2
LOCATED, AS CERTIFIED IN WRIT ING TO THE BOARD BY THE COUNTY 3
COMMISSIONERS FOR TH E MEMBER COUNTY OR T HE MUNICIPAL GOVERNMENT FOR 4
THE MUNICIPALITY IN WHICH THE PROJECT IS LOCATED. 5
(2) (i) The Board shall choose which projects to award grants and loans 6
to based on the criteria developed in accordance with paragraph (1) of this subsection. 7
(ii) The Board or the Executive Director shall distribute grants and 8
loans to projects based on the decisions made by the Board in accordance with 9
subparagraph (i) of this paragraph. 10
(d) (1) The Board or the Executive Director shall monitor and track the 11
progress of each project that receives funding under this part. 12
(2) If the Board determines that sufficient progress is not being made 13
toward achieving the requirements of this section, the Board may reclaim the awarded 14
funds. 15
(e) The funding provided in this section shall be used to supplement and not 16
supplant any funds that would otherwise be provided to the Board or the member counties. 17
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 18
1, 2025. 19
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
President of the Senate.
________________________________________________________________________________
Speaker of the House of Delegates.