| HOUSE BILL 226 |
SUBTITLE 20C. MARYLAND OFFSHORE WIND DEVELOPMENT FUND.
Senate Vote
House Vote
A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS INDICATED
B) "ADVISORY COMMITTEE" MEANS THE MARYLAND OFFSHORE WIND BUSINESS DEVELOPMENT ADVISORY COMMITTEE.
C) "ADMINISTRATION" MEANS THE MARYLAND ENERGY ADMINISTRATION
D) "DIRECTOR" MEANS THE DIRECTOR OF THE MARYLAND ENERGY ADMINISTRATION
E) "EMERGING BUSINESS MEANS A BUSINESS THAT IS AT LEAST 51% OWNED AND CONTROLLED BY AN INDIVIDUAL OR INDIVIDUALS WHO ARE CERTIFIED TO HAVE A PERSONAL NET WORTH AS DEFINED IN § 14–301 OF THE FINANCE AND PROCUREMENT THAT DOES NOT EXCEED $6,500,000 AS ADJUSTED EACH YEAR FOR INFLATION ACCORDING TO THE CONSUMER PRICE INDEX
F) "FUND" MEANS THE MARYLAND OFFSHORE WIND BUSINESS DEVELOPMENT FUND ESTABLISHED UNDER § 9–20C–03 OF THIS SUBTITLE
G) "MINORITY MEANS AN INDIVIDUAL WHO IS A MEMBER OF ANY OF THE GROUPS LISTED IN § 14–301 OF THE FINANCE AND PROCUREMENT ARTICLE HERE IS A MARYLAND OFFSHORE WIND BUSINESS DEVELOPMENT ADVISORY COMMITTEE THE ADVISORY COMMITTEE SHALL MAKE RECOMMENDATIONS TO THE ADMINISTRATION ON THE MOST EFFECTIVE MANNER TO USE MONEY IN THE FUND CONSISTENT WITH THE PURPOSES OF THE FUND THE ADVISORY COMMITTEE CONSISTS OF THE FOLLOWING MEMBERS
(1) ONE MEMBER TWO MEMBERS OF THE SENATE OF MARYLAN, ONE FROM EACH OF THE PRINCIPAL POLITICAL PARTIES, APPOINTED BY THE PRESIDENT OF THE SENATE
(2) ONE MEMBER TWO MEMBERS OF THE HOUSE OF DELEGATES, ONE FROM EACH OF THE PRINCIPAL POLITICAL PARTIES, SPEAKER OF THE HOUSE
(3) THE DIRECTOR OR THE DIRECTOR'S DESIGNEE,
(4)THE SECRETARY OF BUSINESS AND ECONOMIC DEVELOPMENT, SECRETARY'S DESIGNEE
(5) THE SPECIAL SECRETARY OF THE GOVERNO’S OFFICE OF MINORITY AFFAIRS OR THE SPECIAL SECRETARY'S DESIGNEE AND
(6) THE FOLLOWING MEMBERS APPOINTED BY THE GOVERNOR:
REPRESENTATIVE OF A PUBLIC INSTITUTION OF HIGHER EDUCATION IN THE STATE
REPRESENTATIVE OF A HISTORICALLY BLACK OR AFRICAN AMERICAN UNIVERSITY IN THE STATE REPRESENTATIVE OF THE STATE'S COMMUNITY COLLEGES
REPRESENTATIVE OF THE MARYLAND INDEPENDENT COLLEGES AND UNIVERSITIES ASSOCIATION
REPRESENTATIVE OF THE MARYLAND SMALL BUSINESS DEVELOPMENT CENTER NETWORK
REPRESENTATIVE OF THE MARYLAND BUSINESS COALITION FOR OFFSHORE WIND
REPRESENTATIVE OF A BUSINESS INCUBATOR IN THE STATE WITH EXPERIENCE IN PROVIDING SERVICES TO MINORITY BUSINESS ENTERPRISES AS DEFINED IN § 14–301 OF THE STATE FINANCE AND PROCUREMENT ARTICLE OR TO EMERGING BUSINESSES INCLUDING EMERGING BUSINESSES OWNED BY MINORITIES
INDIVIDUAL WITH EXPERIENCE IN PROVIDING BUSINESS FINANCING TO MINORITY BUSINESS ENTERPRISES AS DEFINED IN § 14–301 OF THE STATE FINANCE AND PROCUREMENT ARTICLE OR EMERGING BUSINESSES INCLUDING EMERGING BUSINESSES OWNED BY MINORITIES REPRESENTATIVE OF AN OFFSHORE WIND DEVELOPER
REPRESENTATIVE OF AN ORIGINAL EQUIPMENT MANUFACTURER
INDIVIDUAL WHO IS A MINORITY BUSINESS
INDIVIDUAL WITH EXPERIENCE IN OFFSHORE WIND SUPPLY CHAIN ISSUES
THE GOVERNOR SHALL APPOINT THE CHAIR OF THE ADVISORY COMMITTEE
THE ADMINISTRATION SHALL PROVIDE STAFF FOR THE ADVISORY COMMITTEE
A MEMBER OF THE ADVISORY COMMITTEE
(1) MAY NOT RECEIVE COMPENSATION AS A MEMBER OF THE ADVISORY COMMITTEE BUT IS ENTITLED TO REIMBURSEMENT FOR EXPENSES UNDER THE STANDARD STATE TRAVEL REGULATIONS AS PROVIDED IN THE STATE BUDGET ON OR BEFORE DECEMBER 31, 2013.
THE ADVISORY COMMITTEE SHALL PROVIDE WRITTEN RECOMMENDATIONS TO THE ADMINISTRATION REGARDING THE MOST EFFECTIVE USE OF MONEY IN THE FUND IN ORDER TO MAXIMIZE OPPORTUNITIES FOR EMERGING BUSINESSES IN THE STATE INCLUDING MINORITY OWNED EMERGING BUSINESSES; (1) PARTICIPATE IN THE OFFSHORE WIND INDUSTRY (2) IN MAKING A RECOMMENDATION UNDER PARAGRAPH (1) OF THIS SUBSECTION
THE ADVISORY COMMITTEE SHALL CONSIDER OPPORTUNITIES TO MAXIMIZE LEVERAGING OPPORTUNITIES, MENTORING AND PROTEGE MODELS INNOVATION CLUSTERS, EXISTING INCUBATOR AND BUSINESS DEVELOPMENT PROGRAMS AND THE APPROPRIATE ROLE OF PARTNERSHIPS WITH THE STATE'S UNIVERSITIES AND COMMUNITY COLLEGES ON OR BEFORE DECEMBER 31, 2014,.
THE ADVISORY COMMITTEE SHALL PROVIDE UPDATED RECOMMENDATIONS TO THE ADMINISTRATION ON COMPLETION AND SUBMISSION OF THE WRITTEN RECOMMENDATIONS REQUIRED UNDER SUBSECTION G OF THIS SECTION.
THE ADVISORY COMMITTEE SHALL TERMINATE ITS OPERATION AND CEASE UNTIL THERE IS A MARYLAND OFFSHORE WIND BUSINESS DEVELOPMENT FUND IN THE ADMINISTRATION.
THE PURPOSES OF THE FUND ARE TO
(1) PROVIDE FINANCIAL ASSISTANCE BUSINESS DEVELOPMENT ASSISTANCE AND EMPLOYEE TRAINING OPPORTUNITIES FOR THE BENEFIT OF EMERGING BUSINESSES IN THE STATE MINORITYOWNED EMERGING BUSINESSES TO PREPARE THOSE BUSINESSES TO PARTICIPATE IN THE EMERGING OFFSHORE WIND INDUSTRY
(2) ENCOURAGE EMERGING BUSINESSES IN THE STATE INCLUDING MINORITY OWNED EMERGING BUSINESSES TO PARTICIPATE IN THE EMERGING OFFSHORE WIND INDUSTRY THE ADMINISTRATION MAY USE THE FUND TO (1) CARRY OUT THE PURPOSES OF THE FUND AND
(3) PAY THE COSTS OF IMPLEMENTING THIS SUBTITLE
THE DIRECTOR SHALL MANAGE AND SUPERVISE THE FUND.
1) THE FUND IS A SPECIAL NONLAPSING FUND THAT IS NOT SUBJECT TO REVERSION UNDER § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE
2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY AND THE COMPTROLLER SHALL ACCOUNT FOR THE FUND
1) THE STATE TREASURER SHALL INVEST THE MONEY OF THE FUND IN THE SAME MANNER AS OTHER STATE MONEY
2) ANY INVESTMENT EARNINGS OF THE FUND SHALL BE CREDITED TO THE FUND THE FUND CONSISTS OF
(1) MONEY APPROPRIATED BY THE STATE TO THE FUND
(2) MONEY PAID TO THE FUND BY A QUALIFIED OFFSHORE WIND PROJECT UNDER § 7–704.1 OF THE PUBLIC UTILITIES ARTICLE
(3) MONEY MADE AVAILABLE TO THE FUND THROUGH FEDERAL PROGRAMS OR PRIVATE CONTRIBUTIONS
(4) REPAYMENT OF PRINCIPAL OR PAYMENT OF INTEREST ON A LOAN MADE FROM THE FUND
(5) PROCEEDS FROM THE SALE DISPOSITION LEASE OR RENTAL BY THE ADMINISTRATION OF COLLATERAL RELATED TO FINANCING THAT THE ADMINISTRATION PROVIDES UNDER THIS SUBTITLE
(6) INVESTMENT EARNINGS OF THE FUND AND
(7) ANY OTHER MONEY MADE AVAILABLE TO THE ADMINISTRATION FOR THE FUND
(1) IN FISCAL YEARS 2015, $1,500,000 SHALL BE TRANSFERRED FROM THE STRATEGIC ENERGY INVESTMENT FUND TO THE FUND
(2) IN FISCAL YEAR 2016, $1,000,000 SHALL BE TRANSFERRED FROM THE STRATEGIC ENERGY INVESTMENT FUND WHEN DETERMINING HOW MOST EFFECTIVELY TO USE THE MONEY IN THE FUND
THE ADMINISTRATION SHALL CONSIDER THE RECOMMENDATION OF THE ADVISORY COMMITTEE IN CARRYING OUT THIS SUBTITLE AND CONSISTENT WITH THE PURPOSES OF THE FUND THE ADMINISTRATION MAY CONTRACT WITH EXPERTS IN THE AREA OF OFFSHORE WIND ENERGY AND ENTITIES EXPERIENCED IN ASSISTING EMERGING BUSINESSES INCLUDING MINORITY OWNED EMERGING BUSINESSES INACCESSING MARKET OPPORTUNITIES
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