# Economic Development (GEC)

## Title 12. Local Development Authorities and Resources

### Subtitle 1. Economic Development Revenue Bond Act

#### Section 12-108

Except as necessary to pay debt service or implement the public purposes or programs of the incorporating county or municipal corporation, the net earnings of an authority may benefit only the incorporating county or municipal corporation and may not benefit any person.

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