§ 10-1104
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/md/economic-development/10-1104A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–1104.
The purposes of the Corporation are to:
(1)do all things necessary to qualify as a qualified community development entity;
(2)apply to the U.S. Department of the Treasury to be designated as a qualified community development entity;
(3)apply to the U.S. Department of the Treasury for an allocation of new markets tax credits;
(4)receive, make, and facilitate qualified equity investments and financial assistance available in low–income communities in the State;
(5)allocate any new markets tax credits received by the Corporation;
(6)coordinate with other qualified community development entities in the State to help ensure that low–income communities are receiving the maximum benefit of qualified equity investments in the State;
(7)make investments and financial assistance available to low–income communities in the State from the Corporation’s money or from any other source;
(8)build a long–term financial capacity and sustained investment in low–income communities in the State;
(9)coordinate and create pathways to follow–on financing in the State; and
(10)foster inclusive and diverse entrepreneurship and innovation throughout the State, which may include initiatives to raise awareness of programs to assist low–income communities.