§ 5-332
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/md/economic-development/5-332A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–332.
(a)A local government shall use a grant under this part:
(1)to provide loans or loan guarantees, or to subsidize the interest rate on loans, for financing economic development projects; or
(2)to provide loans to small businesses.
(b)The Department may require that money from a grant under this part be returned to the Department if the local economic development fund is inactive for more than 2 years after the grant is made.