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: (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.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.