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Statutes Text

Article - Economic Development




§10–802.

    (a)    The General Assembly finds that:

        (1)    the United States as a whole, and the State in particular, are facing increased energy costs based on many factors, including rising fuel costs, limited investment in generation and transmission facilities, and a complex combination of market–based and other regulatory mechanisms that balance environmental, economic, health, and welfare interests;

        (2)    continued exclusive reliance on traditional forms of electricity supply entrenches the State’s dependence on fossil fuels, working against the State’s policy of decreasing greenhouse gas production, as evidenced by the State’s accession to the Regional Greenhouse Gas Initiative;

        (3)    “clean energy”, a broad term that includes a wide and varied mixture of strategies and techniques to produce useful energy from renewable and sustainable sources in a manner that minimizes fossil fuel use and harmful emissions, and to increase the efficient use of energy derived from all sources, offers many different opportunities for residents of the State to succeed in entrepreneurial and other commercial activity, to the overall economic and environmental benefit of the entire State, as measured in improved air and water quality, moderated energy expenditures, and increased State and local tax receipts;

        (4)    many individuals and businesses in the State possess talents and interest in the clean energy technology sector, which may form the basis for encouraging development and deployment of sustainable and renewable energy technologies in the State, the nation, and the world;

        (5)    the State will benefit from a targeted effort to establish and incubate clean energy industries in the State, including financial assistance, information sharing, and technical support for entrepreneurs in the manufacture and installation of clean energy technology; and

        (6)    it is in the public interest to establish a public corporation to undertake the tasks of promoting clean energy industries in the State, developing incubators for those industries, providing financial assistance, and also providing information sharing and technical assistance.

    (b)    The purposes of this subtitle are to:

        (1)    encourage the development of clean energy industries in the State;

        (2)    encourage the deployment of clean energy technologies in the State;

        (3)    help retain and attract business activity and commerce in the clean energy technology industry sector in the State;

        (4)    promote economic development; and

        (5)    promote the health, safety, and welfare of residents of the State.

    (c)    The General Assembly intends that:

        (1)    the Center operate and exercise its corporate powers in all areas of the State;

        (2)    without limiting its authority to otherwise exercise its corporate powers, the Center exercise its corporate powers to assist governmental units and State and local economic development agencies to contribute to the expansion, modernization, and retention of existing enterprises in the State as well as the attraction of new business to the State;

        (3)    the Center cooperate with private industries and local governments in maximizing new economic opportunities for residents of the State; and

        (4)    the Center accomplish at least one of the purposes listed in subsection (b) of this section and complement existing State marketing and financial assistance programs by:

            (i)    owning projects;

            (ii)    leasing projects to other persons; or

            (iii)    lending the proceeds of bonds to other persons to finance the costs of acquiring or improving projects that the persons own or will own.



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