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Statutes Text

Article - Economic Development




§5–705.

    (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 50% 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.

        (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.