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<section article="gec" article_name="Economic Development" number="10-4A-28" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="4A" subtitle_name="Invest Maryland Program">
  <level label="a">
    <level label="1">
      <text>The Corporation shall submit a report on the implementation of the Program.</text>
    </level>
    <level label="2">
      <text>The report required under this section shall be submitted to the Senate Budget and Taxation Committee and the House Ways and Means Committee.</text>
    </level>
    <level label="3">
      <text>The Corporation shall publish the report on the Corporation’s website in a publicly available format.</text>
    </level>
    <level label="4">
      <text>The report published on the website may not include any proprietary or confidential information.</text>
    </level>
  </level>
  <level label="b">
    <text>The report shall include:</text>
    <level label="1">
      <text>with respect to each purchaser of premium tax credits under the Program:</text>
      <level label="i">
        <text>the name of the purchaser of premium tax credits;</text>
      </level>
      <level label="ii">
        <text>the amount of premium tax credits allocated to the purchaser;</text>
      </level>
      <level label="iii">
        <text>the amount of designated capital the purchaser contributed for the issuance of the tax credit certificate; and</text>
      </level>
      <level label="iv">
        <text>the amount of any tax credits that have been transferred under § 10–4A–12 of this subtitle;</text>
      </level>
    </level>
    <level label="2">
      <text>with respect to each venture firm that has received an allocation of designated capital:</text>
      <level label="i">
        <text>the name and address of the venture firm;</text>
      </level>
      <level label="ii">
        <text>the names of the individuals making decisions on behalf of the venture firm to make qualified investments under the Program;</text>
      </level>
      <level label="iii">
        <text>the amount of designated capital received during the previous fiscal year;</text>
      </level>
      <level label="iv">
        <text>the cumulative amount of designated capital received;</text>
      </level>
      <level label="v">
        <text>the amount of designated capital remaining uninvested at the end of the previous fiscal year;</text>
      </level>
      <level label="vi">
        <text>the names and locations of qualified businesses receiving designated capital and the amount of each qualified investment;</text>
      </level>
      <level label="vii">
        <text>for the previous fiscal year, the aggregate fair market value of all qualified investments as calculated according to generally accepted accounting principles; and</text>
      </level>
      <level label="viii">
        <text>the amount of any qualified distribution or nonqualified distribution taken during the previous fiscal year, including any management fee;</text>
      </level>
    </level>
    <level label="3">
      <text>with respect to the Enterprise Fund:</text>
      <level label="i">
        <text>the amount of designated capital received during the previous fiscal year;</text>
      </level>
      <level label="ii">
        <text>the cumulative amount of designated capital received;</text>
      </level>
      <level label="iii">
        <text>the amount of designated capital remaining uninvested at the end of the previous fiscal year;</text>
      </level>
      <level label="iv">
        <text>the names and locations of qualified businesses receiving designated capital and the amount of each qualified investment; and</text>
      </level>
      <level label="v">
        <text>for the previous fiscal year, the aggregate fair market value of all qualified investments as calculated according to generally accepted accounting principles;</text>
      </level>
    </level>
    <level label="4">
      <text>with respect to the Financing Authority:</text>
      <level label="i">
        <text>the amount of designated capital received during the previous fiscal year and the amount allocated to the Equity Participation Investment Program;</text>
      </level>
      <level label="ii">
        <text>the cumulative amount of designated capital received;</text>
      </level>
      <level label="iii">
        <text>the amount of designated capital remaining uninvested at the end of the previous fiscal year;</text>
      </level>
      <level label="iv">
        <text>the names and locations of qualified businesses receiving designated capital and the amount of each qualified investment; and</text>
      </level>
      <level label="v">
        <text>for the previous fiscal year, the aggregate fair market value of all qualified investments as calculated under generally accepted accounting principles; and</text>
      </level>
    </level>
    <level label="5">
      <text>for the previous fiscal year, with respect to the qualified businesses in which venture firms, the Enterprise Fund, or the Financing Authority have invested:</text>
      <level label="i">
        <text>the classification of the qualified businesses according to the industrial sector and the size of the business;</text>
      </level>
      <level label="ii">
        <text>the total number of jobs created in the State by the investment and the average wages paid for the jobs; and</text>
      </level>
      <level label="iii">
        <text>the total number of jobs retained in the State as a result of the investment and the average wages paid for the jobs.</text>
      </level>
    </level>
  </level>
</section>
