 |
Unannotated Code of Maryland (Last Updated: May 16, 2014) |
 |
ECONOMIC DEVELOPMENT |
|
DIVISION I. DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT |
|
TITLE 5. ECONOMIC DEVELOPMENT AND FINANCIAL ASSISTANCE PROGRAMS |
|
SUBTITLE 4. MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY |
|
PART I. GENERAL PROVISIONS |
§ 5-401. Definitions
Latest version.
-
(a) In general. -- In this subtitle the following words have the meanings indicated.
** REVISOR'S NOTE
This subsection formerly was Art. 83A, § 5-901(a).
** REVISOR'S NOTE
The only changes are in style.
(b) Authority. -- "Authority" means the Maryland Industrial Development Financing Authority.
** REVISOR'S NOTE
This subsection formerly was Art. 83A, § 5-901(c).
** REVISOR'S NOTE
No changes are made.
(c) Authorized purpose obligation. --
(1) "Authorized purpose obligation" means an evidence of obligation issued, offered for sale, or delivered by any person or public body for any purpose that the Authority determines will accomplish the purposes of this subtitle.
(2) "Authorized purpose obligation" includes:
(i) a bond;
(ii) a note;
(iii) a certificate; and
(iv) any other evidence of obligation.
** REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(d).
** REVISOR'S NOTE
In paragraph (1) of this subsection, the phrase "for any purpose that the Authority determines" is substituted for the former phrase "for any purpose found and determined by the Authority" for brevity.
** DEFINED TERMS:
"Authority" § 5-401
** DEFINED TERMS:
"Bond" § 5-401
** DEFINED TERMS:
"Person" § 1-101
** DEFINED TERMS:
"Public body" § 5-401
**
(d) Bond. -- **
(1) "Bond" means a bond or note that is issued and sold by a public body, unit, or instrumentality of the State to finance a facility or refund an outstanding bond. **
(2) "Bond" includes: **
(i) a bond anticipation note; **
(ii) a note in the nature of commercial paper or other instrument; **
(iii) a certificate; **
(iv) a bond issued under this subtitle or Title 12, Subtitle 1 of this article (Maryland Economic Development Revenue Bond Act); and **
(v) any other evidence of obligation.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(e).
"Facility" § 5-401
"Finance" § 5-401
"Public body" § 5-401
"State" § 1-101
**
(e) Cogeneration. -- "Cogeneration" means the combined generation by a facility of: **
(1) electrical or mechanical power; and **
(2) energy used for industrial, commercial, heating or cooling purposes, including: **
(i) steam; **
(ii) heat; and **
(iii) other forms of energy.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(f).
REVISOR'S NOTE
In paragraph (2)(iii) of this subsection, the former reference to "useful" energy is deleted as surplusage.
DEFINED TERM:
"Facility" § 5-401
**
(f) Commercial building. -- "Commercial building" means a building that: **
(1) is used primarily to carry on a for-profit or not-for-profit business; **
(2) is not residential; and **
(3) is not used primarily to manufacture or produce raw materials, products, or agricultural commodities.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(g).
REVISOR'S NOTE
The former phrase "for the purpose of providing financial assistance for an energy conservation project or a solar energy project in a commercial building" is deleted as surplusage. **
(g) Energy audit. -- "Energy audit" means: **
(1) an energy audit performed for the purposes of Title VII of the Energy Policy and Conservation Act, 42 U.S.C. § 6201 through 6422; or **
(2) an onsite inspection of a commercial building, an industrial building, or an industrial process to determine and provide information on: **
(i) the type, quantity, and rate of energy consumption of the building or process; **
(ii) maintenance and operation procedures that might reduce the energy consumption of the building or process; and **
(iii) the cost of implementing an appropriate energy conservation project, a solar energy project, or both, and the savings in energy costs likely to result from the project.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(j).
DEFINED TERMS:
"Commercial building" § 5-401
DEFINED TERMS:
"Energy conservation project" § 5-401
DEFINED TERMS:
"Industrial building" § 5-401
DEFINED TERMS:
"Industrial process" § 5-401
DEFINED TERMS:
"Solar energy project" § 5-401
**
(h) Energy conservation project. -- "Energy conservation project" means a project that qualifies under § 5-447 of this subtitle.
REVISOR'S NOTE
This subsection is new language added to provide a convenient reference to an "energy conservation project". **
(i) Energy project. -- **
(1) "Energy project" means a project that qualifies under § 5-445 of this subtitle. **
(2) "Energy project" includes: **
(i) an energy conservation project; and **
(ii) a solar energy project.
REVISOR'S NOTE
This subsection is new language added to provide a convenient reference to an "energy project".
"Energy conservation project" § 5-401
"Solar energy project" § 5-401
**
(j) Export-related financing transaction. -- "Export-related financing transaction" means financing provided to a manufacturer of goods in the State, or a seller of goods or services in the State, if the goods or services are intended for sale to a foreign entity.
REVISOR'S NOTE
This subsection formerly was Art. 83A, § 5-901(m).
REVISOR'S NOTE
The only changes are in style.
DEFINED TERM:
"State" § 1-101
**
(k) Facility. -- **
(1) "Facility" has the meaning stated in § 12-101 of this article. **
(2) "Facility" includes an energy project.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(n).
"Energy project" § 5-401
**
(l) Facility applicant. -- "Facility applicant" has the meaning stated in § 12-101 of this article.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(o). **
(m) Facility user. -- "Facility user" has the meaning stated in § 12-101 of this article.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(p). **
(n) Finance. -- "Finance" includes refinance.
REVISOR'S NOTE
This subsection is new language added to avoid repetition of the phrase "finance or refinance". **
(o) Foreign entity. -- "Foreign entity" means: **
(1) a person located outside the United States; or **
(2) a governmental unit of a country other than the United States.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(r).
REVISOR'S NOTE
In this subsection, the former phrase "business association, or corporation" is deleted as implicit in the defined term "person".
DEFINED TERMS:
"Authority" § 5-401
DEFINED TERMS:
"Person" § 1-101
**
(p) Fund. -- "Fund" means the Industrial Development Fund established under § 5-423 of this subtitle.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(t). **
(q) Improve. -- "Improve" means to construct, reconstruct, equip, expand, extend, improve, install, rehabilitate, or remodel.
REVISOR'S NOTE
This subsection is new language added for brevity and clarity.
DEFINED TERM:
"Facility" § 5-401
**
(r) Improvement. -- "Improvement" means construction, addition, alteration, equipping, expansion, extension, improvement, installation, reconstruction, rehabilitation, remodeling, or repair.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(b).
REVISOR'S NOTE
The defined term "[i]mprovement" is substituted for the former defined term "[a]cquisition" for clarity since all of the items listed in the former defined term, except "acquisition" itself, are a type of improvement. Correspondingly, the former term "acquisition" is deleted from the defined term "improvement" and is stated separately where appropriate in the revision.
REVISOR'S NOTE
The references to "addition", "alteration", "installation", and "repair" are added for completeness and consistency with the definition of "improvement" in § 10-101 of this article.
REVISOR'S NOTE
The former phrase "1 or more facilities or energy projects" is deleted as unnecessary since a reference to a facility or energy project is repeated as appropriate whenever the defined term "improvement" is used in this subtitle.
"Facility" § 5-401
**
(s) Industrial building. -- **
(1) "Industrial building" means a building that: **
(i) is used primarily to carry on a for-profit or not-for-profit business; **
(ii) is used primarily for an industrial process; and **
(iii) controls energy usage within its exterior envelope but does not have a peak design rate of energy usage of less than: **
1. 3.5 B.T.U. per hour per square foot; or **
2. 1 watt per square foot of floor area. **
(2) "Industrial building" does not include a commercial building or a residential building.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(s).
REVISOR'S NOTE
In item (1)(iii) of this subsection, the former phrase "as designed", which pertained to the peak design rate of energy usage, is deleted as surplusage.
DEFINED TERMS:
"Commercial building" § 5-401
DEFINED TERMS:
"Industrial process" § 5-401
**
(t) Industrial process. -- "Industrial process" means: **
(1) a process used to produce or manufacture goods or products; or **
(2) the storage or shipment of materials, goods, or products.
REVISOR'S NOTE
This subsection formerly was Art. 83A, § 5-901(u).
REVISOR'S NOTE
No changes are made. **
(u) Public body. -- "Public body" has the meaning stated in § 12-101 of this article.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(y). **
(v) Public port. -- "Public port" has the meaning stated in § 12-101 of this article.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(z). **
(w) Retail establishment. -- "Retail establishment" means an establishment that sells goods or services to the ultimate user or consumer for personal use rather than business use.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-901(aa). **
(x) Solar energy project. -- "Solar energy project" means a project that qualifies under § 5-448 of this subtitle.
REVISOR'S NOTE
This subsection is new language added to provide a convenient reference to "solar energy project".
HISTORY: An. Code 1957, art. 83A, § 5-901(a)-(g), (j), (m)-(p), (r)-(u), (y), (z), (aa); 2008, ch. 306, § 2.