§ 13-801. Definitions

   (a) In general. -- In this subtitle the following words have the meanings indicated, unless otherwise required by the context.

(b) Bonds. -- "Bonds" means any bonds, notes, or other obligations of an issuer, the interest on which is exempt from federal taxation under the Code and the tax-exempt status of which is subject to the volume limitation established under § 146 of the Code.

(c) Code. -- "Code" means the Internal Revenue Code of 1986, as amended, and the applicable regulations thereunder.

(d) Community Development Administration. -- "Community Development Administration" means that division of the Department of Housing and Community Development established under Title 4, Subtitle 2 of the Housing and Community Development Article.

(e) County. -- "County" means any county in the State of Maryland and the City of Baltimore.

(f) Housing bonds. -- "Housing bonds" means any "qualified mortgage bonds" and bonds for any "qualified residential rental project" as those terms are defined in the Code.

(g) Issuer. -- "Issuer" means any State issuer or local issuer.

(h) Local issuer. -- "Local issuer" means any county, municipality, or industrial development authority established under Title 12, Subtitle 1 of the Economic Development Article, or other agency with authority to issue bonds, other than a State issuer.

(i) Maryland State ceiling. -- "Maryland State ceiling" means the volume limitation established pursuant to § 146 of the Code on the aggregate dollar amount of bonds that may be issued by State and local issuers in any calendar year.

(j) Minority business enterprise. -- "Minority business enterprise" means the minority business enterprises as defined in § 14-301 of the State Finance and Procurement Article.

(k) Municipality. -- "Municipality" means any municipal corporation subject to the provisions of Article XI-E of the Maryland Constitution.

(l) Secretary. -- "Secretary" means the Secretary of Business and Economic Development.

(m) Secretary's reserve. -- "Secretary's reserve" means the allocation of the Maryland State ceiling initially made under § 13-802(4) of this subtitle and augmented under § 13-805 of this subtitle.

(n) State issuer. -- "State issuer" means the State of Maryland or any agency of the State of Maryland with authority to issue bonds.

HISTORY: 1987, ch. 311, § 6; ch. 598, § 1, 3; 1988, ch. 6, § 1, 8, 12; 1989, ch. 5, § 1; 1990, ch. 6, § 2; 1992, ch. 22, § 1; 1995, ch. 120, § 19; 2003, ch. 21, § 7; 2005, ch. 44, § 1; 2006, ch. 44; 2008, ch. 307, § 1; 2009, ch. 60.