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<section article="gec" article_name="Economic Development" number="10-415" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="4" subtitle_name="Maryland Technology Development Corporation">
  <level label="a">
    <level label="1">
      <text>On or before October 1 of each year, the Corporation shall report to the Governor, the Maryland Economic Development Commission, 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 the:</text>
        <level label="1">
          <text>principal business operations;</text>
        </level>
        <level label="2">
          <text>number of employees in the State and the number of employees outside the State;</text>
        </level>
        <level label="3">
          <text>capital or other investments made in the State; and</text>
        </level>
        <level label="4">
          <text>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>a list of businesses that have received funding that would no longer qualify as a qualified business; and</text>
      </level>
      <level label="vii">
        <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.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>On or before October 1 each year, beginning in 2023, and every 6 months thereafter, the Corporation shall report to the Governor, the Maryland Economic Development Commission, 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 qualified businesses or other businesses 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 qualified businesses or other businesses receiving support shall include for each business:</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">
    <level label="1">
      <text>On or before October 1, 2024, and each October 1 thereafter, the Corporation shall report to the Governor, the Maryland Economic Development Commission, and, in accordance with § 2–1257 of the State Government Article, the General Assembly on the following information from the immediately preceding fiscal year:</text>
      <level label="i">
        <text>the number of applications the Corporation received;</text>
      </level>
      <level label="ii">
        <text>the amount of investment funding that was available at the beginning of the fiscal year;</text>
      </level>
      <level label="iii">
        <text>the amount of investment funding that was available at the end of the fiscal year;</text>
      </level>
      <level label="iv">
        <text>the amount of investment funding that was requested;</text>
      </level>
      <level label="v">
        <text>the number of applicants the Corporation invested in; and</text>
      </level>
      <level label="vi">
        <text>the amount of investment funding the Commission awarded.</text>
      </level>
    </level>
    <level label="2">
      <text>The information reported in accordance with paragraph (1) of this subsection shall:</text>
      <level label="i">
        <text>specify which applications and investments were from social impact funds, seed funds, and the Maryland Venture Fund; and</text>
      </level>
      <level label="ii">
        <text>if available, provide information that has been de–identified and disaggregated on applicants and qualified business founders by race, ethnicity, age, gender, disability status, veteran status, and geographic location and the degree to which applicants and founders identify with more than one demographic category.</text>
      </level>
    </level>
  </level>
</section>
