Section 13-801 - Definitions. - Maryland Statutes

§ 13-801. Definitions.
 

(a)  In general.- In this subtitle the following words have the meanings indicated, unless otherwise required by the context. 

(b)  Bonds.- "Bonds" means any bonds, notes, or other obligations of an issuer, the interest on which is exempt from federal taxation under the Code and the tax-exempt status of which is subject to the volume limitation established under § 146 of the Code. 

(c)  Code.- "Code" means the Internal Revenue Code of 1986, as amended, and the applicable regulations thereunder. 

(d)  Community Development Administration.- "Community Development Administration" means that division of the Department of Housing and Community Development established under Title 4, Subtitle 2 of the Housing and Community Development Article. 

(e)  County.- "County" means any county in the State of Maryland and the City of Baltimore. 

(f)  Housing bonds.- "Housing bonds" means any "qualified mortgage bonds" and bonds for any "qualified residential rental project" as those terms are defined in the Code. 

(g)  Issuer.- "Issuer" means any State issuer or local issuer. 

(h)  Local issuer.- "Local issuer" means any county, municipality, or industrial development authority established under Title 12, Subtitle 1 of the Economic Development Article, or other agency with authority to issue bonds, other than a State issuer. 

(i)  Maryland State ceiling.- "Maryland State ceiling" means the volume limitation established pursuant to § 146 of the Code on the aggregate dollar amount of bonds that may be issued by State and local issuers in any calendar year. 

(j)  Minority business enterprise.- "Minority business enterprise" means the minority business enterprises as defined in § 14-301 of the State Finance and Procurement Article. 

(k)  Municipality.- "Municipality" means any municipal corporation subject to the provisions of Article XI-E of the Maryland Constitution. 

(l)  Secretary.- "Secretary" means the Secretary of Business and Economic Development. 

(m)  Secretary's reserve.- "Secretary's reserve" means the allocation of the Maryland State ceiling initially made under § 13-802(4) of this subtitle and augmented under § 13-805 of this subtitle. 

(n)  State issuer.- "State issuer" means the State of Maryland or any agency of the State of Maryland with authority to issue bonds. 
 

[1987, ch. 311, § 6; ch. 598, §§ 1, 3; 1988, ch. 6, §§ 1, 8, 12; 1989, ch. 5, § 1; 1990, ch. 6, § 2; 1992, ch. 22, § 1; 1995, ch. 120, § 19; 2003, ch. 21, § 7; 2005, ch. 44, § 1; 2006, ch. 44; 2008, ch. 307, § 1; 2009, ch. 60.]