Maryland § 5-324
Full text of Maryland Maryland Code § 5-324, with citation guidance and answers to common questions.
§ 5-324.
(a) Each subsection of this section is subject to § 5–323 of this subtitle.
(b) If the Department or Authority determines a project to be a significant strategic economic development opportunity, the Department or Authority may provide a loan from the Fund for the project to an individual, private business, nonprofit entity, or the Corporation in an amount not exceeding $10,000,000.
(c) If the Department or Authority determines a project to be a local economic development opportunity, the Department or Authority may provide financial assistance from the Fund for the project to an individual, private business, nonprofit entity, or the Corporation in an amount not exceeding:
(1) $5,000,000 for a loan or investment; and
(2) $2,000,000 for a grant.
(d) (1) Financial assistance provided to a local government or the Corporation to finance a project may be:
(i) in the form of a grant, loan, or investment; and
(ii) except as provided in paragraph (2) of this subsection, in an amount not exceeding $3,000,000.
(2) Financial assistance for a Tier I county project may be in an amount determined by the Department.
(3) A grant to a local economic development fund is subject to the requirements of Part V of this subtitle.
(e) Financial assistance for a specialized economic development opportunity may be:
(1) provided to an individual, private business, nonprofit entity, or local government, or the Corporation;
(2) in the form of a grant, loan, or investment; and
(3) in an amount determined by the Department or Authority.
Frequently Asked Questions About Maryland § 5-324
What does Maryland Code § 5-324 cover?
Section 5-324 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 5-324?
A common citation format is "Maryland Code § 5-324" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 5-324 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.