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<section article="gec" article_name="Economic Development" number="10-1104" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="11" subtitle_name="Maryland Community Investment Corporation">
  <text>The purposes of the Corporation are to:</text>
  <level label="1">
    <text>do all things necessary to qualify as a qualified community development entity;</text>
  </level>
  <level label="2">
    <text>apply to the U.S. Department of the Treasury to be designated as a qualified community development entity;</text>
  </level>
  <level label="3">
    <text>apply to the U.S. Department of the Treasury for an allocation of new markets tax credits;</text>
  </level>
  <level label="4">
    <text>receive, make, and facilitate qualified equity investments and financial assistance available in low–income communities in the State;</text>
  </level>
  <level label="5">
    <text>allocate any new markets tax credits received by the Corporation;</text>
  </level>
  <level label="6">
    <text>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;</text>
  </level>
  <level label="7">
    <text>make investments and financial assistance available to low–income communities in the State from the Corporation’s money or from any other source;</text>
  </level>
  <level label="8">
    <text>build a long–term financial capacity and sustained investment in low–income communities in the State;</text>
  </level>
  <level label="9">
    <text>coordinate and create pathways to follow–on financing in the State; and</text>
  </level>
  <level label="10">
    <text>foster inclusive and diverse entrepreneurship and innovation throughout the State, which may include initiatives to raise awareness of programs to assist low–income communities.</text>
  </level>
</section>
