# Economic Development (GEC)

## Title 5. Economic Development and Financial Assistance Programs

### Subtitle 3. Maryland Economic Development Assistance Authority and Fund

#### Section 5-313

The Fund consists of:

(1) money appropriated in the State budget to the Fund;

(2) money made available to the Fund through federal programs or private contributions;

(3) repayments of principal and interest from loans made from the Fund;

(4) proceeds from the sale, disposition, lease, or rental of collateral related to financial assistance provided by the Department under this subtitle;

(5) application or other fees paid to the Fund to process requests for financial assistance;

(6) recovery of an investment made by the Department in a business, including an arrangement under which part of the investment is recovered through:

  (i) a requirement that the Department receive a proportion of cash flow, commissions, royalties, or license fees;

  (ii) the repurchase from the Department of any of its investment interest; or

  (iii) the sale of an appreciated asset;

(7) repayments received from recipients of conditional grants from the Department;

(8) money collected under Sec. 9-229 of the Tax - Property Article;

(9) repayments on or recoveries from financial assistance provided from the former:

  (i) Brownfields Revitalization Incentive Fund;

  (ii) Child Care Facilities Direct Loan Fund;

  (iii) Child Care Special Loan Fund;

  (iv) Maryland Industrial and Commercial Redevelopment Fund;

  (v) Maryland Industrial Land Fund;

  (vi) Maryland Seafood and Aquaculture Loan Fund; and

  (vii) Smart Growth Economic Development Infrastructure Fund; and

(10) any other money made available to the Fund.

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