1. A. In this chapter, the following terms have the meanings indicated.

2. B. Terms Defined.

   1. (1) “Annual Report” means the report submitted to the Department of Assessments and Taxation pursuant to Tax-Property Article, §11-101, Annotated Code of Maryland.

   2. (2) “Entity” means:

      1. (a) A commercial enterprise or business that is required to be in good standing with the State Department of Assessments and Taxation and is:

         1. (i) Formed in the State; or
         2. (ii) Registered to do business in the State; or
      2. (b) A corporation, foundation, school, hospital, or other legal entity for which none of the net earnings inure to the benefit of any private shareholder or individual holding an interest in the entity.
   3. (3) “Person” has the meaning stated in Tax-Property Article, §1-101, Annotated Code of Maryland.
   4. (4) “Secretary” means the Secretary of Commerce.
   5. (5) “Special Secretary” means the Special Secretary of the Governor’s Office of Small, Minority & Women Business Affairs.
   6. (6) “State benefit” has the meaning stated in Business Regulation Article, §19-106, Annotated Code of Maryland.
   7. (7) “Underrepresented community” has the meaning stated in Business Regulation Article, §19-106, Annotated Code of Maryland.

Authority: Business Regulation Article, §19-106; Economic Development Article, §2-108; Annotated Code of Maryland

Effective date: September 5, 2022 (49:18 Md. R. 820)