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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 VI. SMALL BUSINESS SURETY BOND PROGRAM |
§ 5-570. Economic impact of contract
Latest version.
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(a) Consideration. -- The Authority may only approve a guaranty or a bond under this part if the Authority determines that the contract, for which a bond is sought to be guaranteed or issued, will have a substantial economic impact.
(b) Determination of economic impact. -- To determine the economic impact of a contract, the Authority may consider:
(1) the amount of the guaranty obligation;
(2) the terms of the bond to be guaranteed;
(3) the number of new jobs that the contract to be bonded will create; and
(4) any other factor that the Authority considers relevant.