<?xml version='1.0' encoding='utf-8'?>
<section article="gec" article_name="Economic Development" number="10-1123" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="11" subtitle_name="Maryland Community Investment Corporation">
  <level label="a">
    <level label="1">
      <text>On or before October 1 each year, the Corporation shall report to the Governor and, in accordance with § 2–1257 of the State Government Article, the General Assembly.</text>
    </level>
    <level label="2">
      <text>The report required under this subsection shall include:</text>
      <level label="i">
        <text>a complete operating and financial statement covering the Corporation’s operations;</text>
      </level>
      <level label="ii">
        <text>a summary of the Corporation’s activities during the preceding fiscal year;</text>
      </level>
      <level label="iii">
        <text>information on all salaries and any incentives approved by the Board for Corporation employees;</text>
      </level>
      <level label="iv">
        <text>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;</text>
      </level>
      <level label="v">
        <text>information on entities that have current investments and entities that received funding or investments in the current year on:</text>
        <level label="1">
          <text>the principal business operations;</text>
        </level>
        <level label="2">
          <text>the number of employees in the State and the number of employees outside the State;</text>
        </level>
        <level label="3">
          <text>the capital or other investments made in the State; and</text>
        </level>
        <level label="4">
          <text>the proposed and actual job creation or capital investment in the State as a result of the investment or support;</text>
        </level>
      </level>
      <level label="vi">
        <text>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</text>
      </level>
      <level label="vii">
        <text>the policies of the Board and any changes to existing policies.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>On a quarterly basis, the Corporation shall report to the Governor and, in accordance with § 2–1257 of the State Government Article, the Joint Audit and Evaluation Committee and the General Assembly.</text>
    </level>
    <level label="2">
      <text>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 § 21–123.2 of the State Personnel and Pensions Article.</text>
    </level>
    <level label="3">
      <text>The list of businesses and projects receiving support shall include for each:</text>
      <level label="i">
        <text>the number of employees in the State;</text>
      </level>
      <level label="ii">
        <text>the number of employees outside the State;</text>
      </level>
      <level label="iii">
        <text>the capital or other investments made in the State; and</text>
      </level>
      <level label="iv">
        <text>proposed job creation or capital investment in the State as a result of the investment or support.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <text>The Corporation shall publish annual financial statements, audit reports, and policies of the Board visibly on its website.</text>
  </level>
</section>
