# Economic Development (GEC)

## Title 12. Local Development Authorities and Resources

### Subtitle 2. Tax Increment Financing Act

#### Section 12-206

(a) Bonds shall be payable from the special fund established under Sec. 12-208 of this subtitle.

(b) The governing body of the political subdivision or the issuer may:

  (1) pledge its full faith and credit or other assets and revenues to pay the bonds; and

  (2) establish a sinking fund or a debt service reserve fund for the bonds.

(c) The assets and revenues pledged under subsection (b)(1) of this section may include any amount that the political subdivision may receive from the State under Sec. 2-222 of the Tax - Property Article.

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