# Economic Development (GEC)

## Title 10. Statewide Development Resources and Revenue Authorities

### Subtitle 1. Maryland Economic Development Corporation

#### Section 10-137

(a) In this part the following words have the meanings indicated.

(b) "Area" means a geographic area in one or more political subdivisions in the State described by a closed perimeter boundary.

(c) "Fund" means the Regional Institution Strategic Enterprise Zone Fund created under Sec. 10-144 of this subtitle.

(d) "Nonprofit organization" means an organization that is exempt or eligible for exemption from taxation under Sec. 501(c)(3) of the Internal Revenue Code.

(e) "Qualified institution" means an entity that is designated as a qualified institution under Sec. 10-139 of this subtitle and may include:

  (1) a regional higher education center as defined under Sec. 10-101 of the Education Article;

  (2) an institution of higher education as defined under Sec. 10-101 of the Education Article; or

  (3) a nonprofit organization that is affiliated with a federal agency.

(f) "RISE zone" means a geographic area in immediate proximity to a qualified institution that is targeted for increased economic and community development that meets the requirements of Sec. 10-140 of this subtitle and is designated as a Regional Institution Strategic Enterprise zone by the Corporation under Sec. 10-140 of this subtitle.

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