1. (a) The Corporation shall adopt standards to award financial assistance under this subtitle.

2. (b) The Corporation may award financial assistance to:

   1. (1) a local government;
   2. (2) an agency, an instrumentality, or a nonprofit corporation that the local government designates; or
   3. (3) a nonprofit entity operating or seeking to operate a makerspace in the State.
3. (c) To the extent practicable, the Corporation shall award financial assistance in a manner that reflects geographic diversity.

4. (d) A recipient of financial assistance under this section:

   1. (1) shall provide matching funds or in-kind contributions for the project at least equal to the amount of financial assistance awarded; and
   2. (2) may not utilize the financial assistance awarded for the operating costs of the makerspace after the first 3 years of operation.
5. (e) Unless two-thirds of the membership of the Board approves, the Corporation may not award financial assistance within a single county under this section that exceeds a total of $250,000 in a single fiscal year.

Added by Acts 2022, c. 322, § 1, eff. Oct. 1, 2022.