1. (a) During each fiscal year the Department may not grant more than $2,000,000 under this part.

2. (b)

   1. (1) Subject to paragraph (2) of this subsection, during each fiscal year a county may not receive more than $250,000 under this part.

   2. (2) For purposes of the limitation under paragraph (1) of this subsection:

      1. (i) any money received under this part by a municipal corporation or designated agency or instrumentality is deemed to be money granted to the county within which the municipal corporation, agency, or instrumentality is located; and
      2. (ii) if more than one county administers or capitalizes a local economic development fund, each county may receive the maximum authorized for a county.

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.