{"data":{"id":"us-md/md.-code-economic-development-5-1401","jurisdiction":"us-md","citation":"Md. Code, Economic Development § 5–1401","heading":"","body":"(a) In this subtitle the following words have the meanings indicated.\n(b) “Area” means a geographic area in one or more political subdivisions in the State described by a closed perimeter boundary.\n(c) “Fund” means the Regional Institution Strategic Enterprise Zone Fund created under § 5–1408 of this subtitle.\n(d) “Nonprofit organization” means an organization that is exempt or eligible for exemption from taxation under § 501(c)(3) of the Internal Revenue Code.\n(e) “Qualified institution” means an entity that is designated as a qualified institution under § 5–1403 of this subtitle and may include:\n(1) a regional higher education center as defined under § 10–101 of the Education Article;\n(2) an institution of higher education as defined under § 10–101 of the Education Article; or\n(3) a nonprofit organization that is affiliated with a federal agency.\n(f) “RISE zone” means a geographic area in immediate proximity to a qualified institution that is targeted for increased economic and community development that meets the requirements of § 5–1404 of this subtitle and is designated as a Regional Institution Strategic Enterprise zone by the Secretary under § 5–1404 of this subtitle.","path":["Article - Economic Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec\u0026section=5-1401","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:57:28Z","sha256":"f4d843a61ebac655dd0ec4e27066e5bce18b159117cf49dc54057bec543a7d3f","source_id":"us-md","stale":false,"prev":"us-md/md.-code-economic-development-5-1307","next":"us-md/md.-code-economic-development-5-1402"},"notice":"GroundRules: Original legal text. Not legal advice."}