§ 10-4C-04

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

§10–4C–04. IN EFFECT

// EFFECTIVE UNTIL SEPTEMBER 30, 2028 PER CHAPTER 322 OF 2022 //

(a)The Corporation shall adopt standards to award financial assistance under this subtitle.

(b)The Corporation may award financial assistance to:

(1)a local government;

(2)an agency, an instrumentality, or a nonprofit corporation that the local government designates; or

(3)a nonprofit entity operating or seeking to operate a makerspace in the State.

(c)To the extent practicable, the Corporation shall award financial assistance in a manner that reflects geographic diversity.

(d)A recipient of financial assistance under this section:

(1)shall provide matching funds or in–kind contributions for the project at least equal to the amount of financial assistance awarded; and

(2)may not utilize the financial assistance awarded for the operating costs of the makerspace after the first 3 years of operation.

(e)Unless two–thirds of the membership of the Board approves, the Corporation may not award financial assistance within a single county under this section that exceeds a total of $250,000 in a single fiscal year.