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<section article="gec" article_name="Economic Development" number="10-482" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="4" subtitle_name="Maryland Technology Development Corporation">
  <level label="a">
    <text>There is an Inclusion Fund in the Corporation.</text>
  </level>
  <level label="b">
    <text>The purpose of the Fund is to provide capital investment in technology–based businesses that:</text>
    <level label="1">
      <text>would qualify for investment under the Builder Fund, as provided in regulations adopted by the Corporation;</text>
    </level>
    <level label="2">
      <text>are at least 30% owned by individuals who demonstrate economic disadvantage; and</text>
    </level>
    <level label="3">
      <text>are controlled and managed for at least 1 year after the time of investment by an individual or individuals who demonstrate economic disadvantage.</text>
    </level>
  </level>
  <level label="c">
    <text>The Corporation shall administer the Fund.</text>
  </level>
  <level label="d">
    <level label="1">
      <text>The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.</text>
    </level>
    <level label="2">
      <text>The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
    </level>
  </level>
  <level label="e">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>money appropriated in the State budget to the Fund;</text>
    </level>
    <level label="2">
      <text>interest earnings of the Fund; and</text>
    </level>
    <level label="3">
      <text>any other money from any other source accepted for the benefit of the Fund.</text>
    </level>
  </level>
  <level label="f">
    <text>The Fund may be used only:</text>
    <level label="1">
      <text>for the purposes described in subsection (b) of this section; and</text>
    </level>
    <level label="2">
      <text>to pay the costs necessary to administer the Fund.</text>
    </level>
  </level>
  <level label="g">
    <level label="1">
      <text>The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.</text>
    </level>
    <level label="2">
      <text>Any investment earnings of the Fund shall be credited to the Fund.</text>
    </level>
  </level>
</section>
