§ 6–308
Statutes in effect as of October 1, 2026.
Md. Code Ann., Hous. & Cmty. Dev. § 6-308 (2026)
Title 6. Division of Neighborhood Revitalization
Subtitle 3. Neighborhood Business Development Program
§ 6–308LinkCopy Citation
(a)
The Department shall:
(1)
administer the Business Development Program;
(2)
adopt regulations to carry out the Business Development Program, including a process to designate an area as a food desert under subsection (c) of this section; and
(3)
make a reasonable, good faith effort to make 25% of the Business Development Program loans and grants to microenterprises.
(b)
The Department may:
(1)
sell, assign, or otherwise dispose of a Program loan or revenue from a loan on terms and conditions acceptable to the Department, including selling loans at a discount, if the maximum sale proceeds in any fiscal year do not exceed limits that the Department sets by regulation;
(2)
apply the proceeds received from a sale, assignment, or other disposition under item (1) of this subsection to the Fund;
(3)
pledge a Program loan as security for any:
(i)
business project loan, bond, or security that is issued, made, or purchased by the Community Development Administration under Title 4 of this article; or
(ii)
insurance, guaranty, or credit enhancement on a Program loan or business project under § 4–223 of this article; and
(4)
without approval or execution by the Board of Public Works, sell or assign any equity interest acquired under § 6–305(d) of this subtitle.
(c)
The Secretary, on the recommendation of the Interagency Food Desert Advisory Committee established under § 6–308.2 of this subtitle, may designate an area as a food desert after considering the following factors:
(1)
availability of fresh fruit, vegetables, and other healthy foods in the area;
(2)
income levels of local residents;
(3)
transportation needs of local residents and the availability of public transportation;
(4)
comments from local governments; and
(5)
any other factors that the Department considers relevant.