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<section article="gec" article_name="Economic Development" number="5-1306" title_number="5" title_name="Economic Development and Financial Assistance Programs" subtitle_number="13" subtitle_name="Brac Revitalization and Incentive Zones">
  <level label="a">
    <text>Benefits are available to political subdivisions with BRAC Revitalization and Incentive Zones as provided in this section.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>A political subdivision that receives designation of an area as a BRAC Revitalization and Incentive Zone may receive amounts as provided in § 2–222 of the Tax – Property Article.</text>
    </level>
    <level label="2">
      <text>Amounts received by a political subdivision as provided in § 2–222 of the Tax – Property Article:</text>
      <level label="i">
        <text>shall be used to pay for infrastructure improvements in the BRAC Revitalization and Incentive Zone; and</text>
      </level>
      <level label="ii">
        <text>may be used for the repayment of bonds, including tax increment financing bonds, issued by the political subdivision for infrastructure improvements in the BRAC Revitalization and Incentive Zone.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <text>Political subdivisions and business entities may receive priority consideration for financial assistance for projects or operations in a BRAC Revitalization and Incentive Zone from:</text>
    <level label="1">
      <text>programs in:</text>
      <level label="i">
        <text>the Department;</text>
      </level>
      <level label="ii">
        <text>the Department of Housing and Community Development; or</text>
      </level>
      <level label="iii">
        <text>the Department of Planning; or</text>
      </level>
    </level>
    <level label="2">
      <text>any other appropriate State programs.</text>
    </level>
  </level>
  <level label="d">
    <text>The benefits set forth in this section are available for 10 years after the date that the first property in the BRAC Revitalization and Incentive Zone becomes a qualified property, as defined in § 2–222 of the Tax – Property Article.</text>
  </level>
  <level label="e">
    <text>The Department shall adopt regulations to carry out the provisions of this subtitle and to specify criteria and procedures for the application, approval, and monitoring the eligibility for the benefits under this subtitle.</text>
  </level>
</section>
