§ 12–117
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 12-117 (2026)
Title 12. Local Development Authorities and Resources
Subtitle 1. Economic Development Revenue Bond Act
§ 12–117LinkCopy Citation
(a)
This section applies to a lease or contract under which:
(1)
the State or a unit of the State will be an initial user or occupant of a facility financed by bonds issued under this subtitle; or
(2)
a facility financed by bonds issued under this subtitle will be built on property owned by the State.
(b)
The State or a unit of the State may not enter into a lease or contract that is subject to this section and that forms a part of the security for bonds issued under this subtitle unless:
(1)
the Legislative Policy Committee has authorized the facility as being consistent with the capital budget; and
(2)
the Board of Public Works specifically has approved the bond issue for that facility.