Md. Code, Hous. & Cmty. Dev. § 6-701

Current with changes from the 2024 Legislative Session
Section 6-701 - Definitions
(a) In this subtitle the following words have the meanings indicated.
(b) "Community development financial institution" has the meaning stated in 12 U.S.C. § 4702.
(c) "Community development organization" means an entity that meets the requirements under § 6-704 of this subtitle.
(d)
(1) "Financial assistance" means a grant, a loan, or an investment provided under this subtitle.
(2) "Financial assistance" includes:
(i) an assurance;
(ii) a guarantee;
(iii) a prepayment of interest on a subordinate or superior loan or portion of a loan;
(iv) a reduction in the principal obligation of or rate of interest payable on a loan or a portion of a loan; and
(v) any other form of credit enhancement.
(e) "National capital region" means the areas of the State located within a sustainable community in Montgomery County or Prince George's County.
(f) "Program" means the National Capital Strategic Economic Development Program.
(g) "Sustainable community" means an area designated as a sustainable community under § 6-205 of this title.

Md. Code, HU § 6-701

Amended by 2021 Md. Laws, Ch. 707,Sec. 1, eff. 7/1/2021.
Added by 2019 Md. Laws, Ch. 732,Sec. 2, eff. 10/1/2019.