§ 10–1104
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 10-1104 (2026)
Title 10. Statewide Development Resources and Revenue Authorities
Subtitle 11. Maryland Community Investment Corporation
§ 10–1104LinkCopy Citation
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.