# Economic Development (GEC)

## Title 12. Local Development Authorities and Resources

### Subtitle 12

#### Section 12-1211

(a) The Authority shall establish a system of financial accounting, controls, audits, and reports.

(b) The fiscal year of the Authority begins on July 1 and ends on the following June 30.

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