Establishes the Transformational Project Financing Program to support development districts with transformational plans.
The bill establishes the Transformational Project Financing Program in Maryland, administered by the Maryland Economic Development Corporation. It defines a "transformational plan" as an improvement plan for a development district that is likely to increase population, employment, or commercial activity in the area and has a net positive fiscal impact on the state. The Corporation will establish guidelines for approving development districts with transformational plans and may charge an application fee.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.