Section 5-1401 - Definitions(a) In this subtitle the following words have the meanings indicated.(b) "Area" means a geographic area in one or more political subdivisions in the State described by a closed perimeter boundary.(c) "Fund" means the Regional Institution Strategic Enterprise Zone Fund created under § 5-1408 of this subtitle.(d) "Nonprofit organization" means an organization that is exempt or eligible for exemption from taxation under § 501(c)(3) of the Internal Revenue Code.(e) "Qualified institution" means an entity that is designated as a qualified institution under § 5-1403 of this subtitle and may include:(1) a regional higher education center as defined under § 10-101 of the Education Article;(2) an institution of higher education as defined under § 10-101 of the Education Article; or(3) a nonprofit organization that is affiliated with a federal agency.(f) "RISE zone" means a geographic area in immediate proximity to a qualified institution that is targeted for increased economic and community development that meets the requirements of § 5-1404 of this subtitle and is designated as a Regional Institution Strategic Enterprise zone by the Secretary under § 5-1404 of this subtitle.Brought forward without change, 2023 Md. Laws, Ch. 523,Sec. 1, eff. 10/1/2023.Brought forward without change, 2023 Md. Laws, Ch. 522,Sec. 1, eff. 10/1/2023.Amended by 2021 Md. Laws, Ch. 207, Sec. 1, eff. 6/1/2021.Amended by 2021 Md. Laws, Ch. 206, Sec. 1, eff. 6/1/2021.Added by 2014 Md. Laws, Ch. 531, Sec. 1, eff. 6/1/2014.Added by 2014 Md. Laws, Ch. 530, Sec. 1, eff. 6/1/2014.