Section 6-903 - Certification of an eligible project [Subtitle subject to contingent abrogation]IN EFFECT** CONTINGENCY - IN EFFECT - CHAPTER 350 OF 2018 **
(a)(1) Subject to paragraph (2) of this subsection, a business entity may apply to the Department to enroll an eligible project in the Program.(2) A business entity shall notify the Department of its intent to seek certification of an eligible project before the business entity establishes the project in the State.(b) The Department may certify a business entity as a qualified business entity after the business entity:(1) provides the required notice under subsection (a) of this section;(2) applies to the Department in accordance with subsection (c) of this section; and(3) establishes an eligible project as described in subsection (d) of this section.(c) A business entity shall submit to the Department an application containing at least the following information: (1) the anticipated date of the establishment of the project;(2) the location of the project;(3) evidence that the project will function as a headquarters of the business entity;(4) the estimated number of qualified positions to be created by the project;(5) the dates by which the qualified positions are expected to be filled;(6) the anticipated payroll for the qualified positions; and(7) any other information the Department requires.(d)(1) To establish an eligible project under this subtitle, a business entity shall: (i) submit evidence that the business entity is legally committed to expending or causing to be expended a minimum of $500,000,000 in project costs; and(ii) submit a project plan to the Department that commits to carry out the following activities over a 17-year period: 1.A. fill at least 40,000 qualified positions at the facility; andB. provide compensation for the qualified positions in an amount that, on average, equals at least $100,000 annually; and2. expend or cause to be expended a total of $4,500,000,000, including any amounts expended under item (i) of this paragraph.(2) Costs that may be included in the amount set forth in paragraph (1)(i) of this subsection include: (i) obligations for labor and payments made to contractors, subcontractors, builders, and suppliers;(ii) acquiring land, rights in land, and expenses incidental to acquiring land or rights in land;(iii) contract bonds and insurance needed during the acquisition, construction, or installation of the project;(iv) test borings, surveys, estimates, plans, specifications, preliminary investigations, environmental mitigation, supervision of construction, and any other architectural and engineering services;(v) performing duties required by or consequent to the acquisition, construction, and installation of the project;(vi) installing water, sewer, sewer treatment, gas, electricity, communications, railroads, and similar utilities;(vii) bond insurance, letters of credit, and other forms of credit enhancement or liquidity facilities;(viii) interest expenses before and during the acquisition, construction, installation, and equipping of the project, and for up to 2 years after project completion;(ix) computers, nonrecurring costs of fixed telecommunications equipment, furnishings, and office equipment; and(x) moving expenses, separation expenses, and any other expenses directly related to moving from outside the State to a location in the State.Added by 2018 Md. Laws, Ch. 350,Sec. 1, eff. 6/1/2018. 2018 Md. Laws, Ch. 350,Sec. 6, provides: "(a) If the Department of Commerce fails to certify a business entity as a qualified business entity under Title 6, Subtitle 9 of the Economic Development Article, as enacted by Section 1 of this Act, before January 1, 2022, this Act, with no further action required by the General Assembly, shall be abrogated and of no further force and effect. (b) On or before January 5, 2022, the Secretary of Commerce shall provide notice of the taking effect of the termination provision under subsection (a) of this section to the Department of Legislative Services, 90 State Circle, Annapolis, Maryland 21401. "