Current with changes from the 2024 Legislative Session
Section 5-705 - Enterprise zones - Expansion(a)(1) A political subdivision may apply to the Secretary to expand an existing enterprise zone in the same manner as the political subdivision would apply to designate a new enterprise zone.(2) The Secretary may grant an expansion of an enterprise zone into an area that meets the requirements of § 5-704 of this subtitle.(3) For purposes of § 5-704(b) of this subtitle, an expansion of an enterprise zone that does not exceed 25% of the existing geographic area of the enterprise zone does not count towards the limit on the number of enterprise zones that: (i) the Secretary may designate in a calendar year; or(ii) a county may receive in a calendar year.(b)(1) The Secretary may grant one extraordinary expansion of an enterprise zone in the State each calendar year for an area that:(i) meets the requirements of § 5-704 of this subtitle; and(ii) in the determination of the Secretary, has suffered a significant loss of economic base or merits inclusion in an enterprise zone for a compelling economic reason.(2) For purposes of § 5-704(b) of this subtitle, an extraordinary expansion of an enterprise zone does not count towards the limit on the number of enterprise zones that: (i) the Secretary may designate in a calendar year; or(ii) a county may receive in a calendar year.Amended by 2022 Md. Laws, Ch. 732, Sec. 1, eff. 6/1/2022.