Section 6-301 - Definitions. - Maryland Statutes

§ 6-301. Definitions.
 

(a)  In general.- In this subtitle the following words have the meanings indicated. 
   
Revisor's Note.

This subsection formerly was Art. 83B, § 4-202(a). 
 

No changes are made. 

(b)  Development costs.-  

(1) "Development costs" means the costs incurred to construct or rehabilitate a neighborhood business development project. 

(2) "Development costs" includes the costs of: 

(i) necessary studies, surveys, plans, and specifications; 

(ii) architectural, engineering, or other special services, including flood plain studies, environmental audits, and critical area or wetland assessments; 

(iii) land and improvements; 

(iv) site preparation; 

(v) construction, reconstruction, and rehabilitation; 

(vi) machinery, equipment, and furnishings; 

(vii) essential start-up operating costs, including working capital and initial occupancy expenses; 

(viii) indemnity and surety bonds and premiums on insurance; 

(ix) temporary relocation expenses; and 

(x) other necessary fees. 
   
Revisor's Note.

This subsection is new language derived without substantive change from former Art. 83B, § 4-202(c). 
 

In paragraph (2)(ii) of this subsection, the former phrase "related to construction or rehabilitation" is deleted as surplusage. 

(c)  Fund.- "Fund" means the Neighborhood Business Development Fund. 
   
Revisor's Note.

This subsection formerly was Art. 83B, § 4-202(d). 
 

No changes are made. 

(d)  Microenterprise.- "Microenterprise" means a business with not more than five employees that: 

(1) requires not more than $35,000 in total start-up capital or financial assistance; and 

(2) does not have access to the traditional commercial banking sector. 
   
Revisor's Note.

This subsection formerly was Art. 83B, § 4-202(f). 
 

The only changes are in style. 

(e)  Program.- "Program" means the Neighborhood Business Development Program. 
   
Revisor's Note.

This subsection is new language added to avoid repetition of the full name of the Neighborhood Business Development Program. 

(f)  Project.-  

(1) "Project" means a neighborhood business development project that receives financial assistance from the Fund. 

(2) "Project" includes a microenterprise project that receives financial assistance from the Fund. 
   
Revisor's Note.

This subsection formerly was Art. 83B, § 4-202(h). 
 

The only changes are in style. 
  Defined Terms.


 
"Fund"                                                               § 6-301

(g)  Small business.- "Small business" means a business that qualifies as a small business under § 6-302 of this subtitle. 
   
Revisor's Note.

This subsection is new language added to provide a convenient reference to "small business". 
 

For the balance of former Art. 83B, § 4-202(i), see § 6-302 of this subtitle. 

(h)  Sustainable community.- "Sustainable community" means the part of a priority funding area that: 

(1) as determined by the Smart Growth Subcabinet, satisfies the requirements of § 6-205 of this title; 

(2) has been designated as a BRAC Revitalization and Incentive Zone under Title 5, Subtitle 13 of the Economic Development Article; or 

(3) has been designated a transit-oriented development under § 7-101 of the Transportation Article. 
 

[An. Code 1957, art. 83B, § 4-202(a)-(d), (f), (h); 2005, ch. 26, § 2; 2008, ch. 36, § 5; ch. 338, § 1; 2010, chs 118, 487.]