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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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ECONOMIC DEVELOPMENT |
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DIVISION I. DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT |
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TITLE 5. ECONOMIC DEVELOPMENT AND FINANCIAL ASSISTANCE PROGRAMS |
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SUBTITLE 5. MARYLAND SMALL BUSINESS DEVELOPMENT FINANCING AUTHORITY |
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PART II. MARYLAND SMALL BUSINESS DEVELOPMENT FINANCING AUTHORITY |
§ 5-514. Certain receipts payable
Latest version.
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(a) In general. -- Notwithstanding § 5-602(g) and (h) of this title or any other law, the following money shall be payable into the funds under this subtitle:
(1) any recovery of investments made under § 5-602 of this title that were funded by a transfer of money from the funds under this subtitle to the Enterprise Fund, including an investment in MMG Ventures LLP; and
(2) any repayment of a grant made under § 5-602 of this title that was funded by a transfer of money from the funds under this subtitle to the Enterprise Fund.
(b) Allocation. -- The Authority shall determine the proportion of the recovery or repayment payable under subsection (a) of this section that shall be deposited into each of the funds under this subtitle.