§ 10–879

Statutes in effect as of October 1, 2026.

Md. Code Ann., Econ. Dev. § 10-879 (2026)

Title 10. Statewide Development Resources and Revenue Authorities

Subtitle 8. Maryland Clean Energy Center

(a)

The Center may use the Fund to enhance the credit of a financing offered by a bank or other financial institution for a project.

(b)

A credit enhancement issued in accordance with subsection (a) of this section shall:

(1)

carry out the purpose of the Program in a manner the Center considers appropriate;

(2)

facilitate financing of at least one project of a local jurisdiction, nonprofit organization, or eligible business; and

(3)

be offered only to a bank or other financial institution in good standing with the State Department of Assessments and Taxation that is:

(i)

incorporated in the State; or

(ii)

registered to do business in the State.

(c)

The Center may assess a reasonable fee to a participating bank or financial institution for the administration of this section.