Md. Code Ann., Econ. Dev. § 5-705
Enterprise zones--Expansion
Effective Jun 1, 2022Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2022, c. 732, § 1, eff. June 1, 2022.State of Maryland
(a)
- (1) A political subdivision may apply to the Secretary to expand an existing enterprise zone in the same manner as the political subdivision would apply to designate a new enterprise zone.
- (2) The Secretary may grant an expansion of an enterprise zone into an area that meets the requirements of § 5-704 of this subtitle.
(3) For purposes of § 5-704(b) of this subtitle, an expansion of an enterprise zone that does not exceed 25% of the existing geographic area of the enterprise zone does not count towards the limit on the number of enterprise zones that:
- (i) the Secretary may designate in a calendar year; or
- (ii) a county may receive in a calendar year.
(b)
(1) The Secretary may grant one extraordinary expansion of an enterprise zone in the State each calendar year for an area that:
- (i) meets the requirements of § 5-704 of this subtitle; and
- (ii) in the determination of the Secretary, has suffered a significant loss of economic base or merits inclusion in an enterprise zone for a compelling economic reason.
(2) For purposes of § 5-704(b) of this subtitle, an extraordinary expansion of an enterprise zone does not count towards the limit on the number of enterprise zones that:
- (i) the Secretary may designate in a calendar year; or
- (ii) a county may receive in a calendar year.
Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2022, c. 732, § 1, eff. June 1, 2022.