# Economic Development (GEC)

## Title 10. Statewide Development Resources and Revenue Authorities

### Subtitle 11. Maryland Community Investment Corporation

#### Section 10-1123

(a)

  (1) On or before October 1 each year, the Corporation shall report to the Governor and, in accordance with Sec. 2-1257 of the State Government Article, the General Assembly.

  (2) The report required under this subsection shall include:

    (i) a complete operating and financial statement covering the Corporation's operations;

    (ii) a summary of the Corporation's activities during the preceding fiscal year;

    (iii) information on all salaries and any incentives approved by the Board for Corporation employees;

    (iv) information on outreach, training, mentorship, support, and investment in minority- and women-owned qualified businesses, including support for marketing by the Maryland Small Business Development Financing Authority;

    (v) information on entities that have current investments and entities that received funding or investments in the current year on:

      (1) the principal business operations;

      (2) the number of employees in the State and the number of employees outside the State;

      (3) the capital or other investments made in the State; and

      (4) the proposed and actual job creation or capital investment in the State as a result of the investment or support;

    (vi) information on the creation of and appointments made to an advisory committee and the responsibilities of the advisory committee and members of the committee; and

    (vii) the policies of the Board and any changes to existing policies.

(b)

  (1) On a quarterly basis, the Corporation shall report to the Governor and, in accordance with Sec. 2-1257 of the State Government Article, the Joint Audit and Evaluation Committee and the General Assembly.

  (2) The report required under this subsection shall include a list of the businesses and projects receiving support through programs administered by the Corporation, including those receiving investments made under Sec. 21-123.2 of the State Personnel and Pensions Article.

  (3) The list of businesses and projects receiving support shall include for each:

    (i) the number of employees in the State;

    (ii) the number of employees outside the State;

    (iii) the capital or other investments made in the State; and

    (iv) proposed job creation or capital investment in the State as a result of the investment or support.

(c) The Corporation shall publish annual financial statements, audit reports, and policies of the Board visibly on its website.

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Md. Code Ann., Econ. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)