Md. Code, Econ. Dev. § 5-337

Maryland · Maryland Code, Economic Development · Status: effective

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Citation: Md. Code, Econ. Dev. § 5-337, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1765698
Permanent ID: ys:prov:1765698@1
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(a) Notwithstanding any other provision of law, the Department may provide to a person, including a responsible person, a low-interest loan or grant to conduct the environmental site assessment of a potential brownfields site that is required to participate in the Voluntary Cleanup Program under Title 7, Subtitle 5 of the Environment Article, if the person: (1) has not already applied to participate in the Program; (2) is otherwise eligible to participate in the Program; and (3) meets the eligibility requirements that the Department sets. (b) The information contained in an environmental site assessment is: (1) the property of the State, if the assessment is financed wholly or partly by: (i) a grant from the Department; or (ii) a loan that is in payment default; or (2) the property of the person who contracted for the assessment, if the assessment is financed by: (i) a loan from the Department; or (ii) a grant that is repaid. (c) Eligibility for a loan or grant for an environmental site assessment under this section does not constitute eligibility for: (1) any other financial assistance under this subtitle; or (2) the tax credits provided under § 9-229 of the Tax - Property Article. (d) The recipient of a grant under this section shall repay the grant if, within 12 months after receiving the grant, the recipient does not receive approval from the Department of the Environment to: (1) participate in the Voluntary Cleanup Program; or (2) implement a corrective action plan under Title 4 of the Environment Article. (e) A low-interest loan provided under this section shall convert to a market rate loan if, within 12 months after receiving the loan, the recipient does not receive approval from the Department of the Environment to: (1) participate in the Voluntary Cleanup Program; or (2) implement a corrective action plan under Title 4 of the Environment Article. (f) The Department may establish procedures and eligibility requirements for the approval of requests for loans and grants under this section.