Section 6-308 - Business Development Program - Administration(a) The Department shall: (1) administer the Business Development Program;(2) adopt regulations to carry out the Business Development Program, including a process to designate an area as a food desert under subsection (c) of this section; and(3) make a reasonable, good faith effort to make 25% of the Business Development Program loans and grants to microenterprises.(b) The Department may:(1) sell, assign, or otherwise dispose of a Program loan or revenue from a loan on terms and conditions acceptable to the Department, including selling loans at a discount, if the maximum sale proceeds in any fiscal year do not exceed limits that the Department sets by regulation;(2) apply the proceeds received from a sale, assignment, or other disposition under item (1) of this subsection to the Fund;(3) pledge a Program loan as security for any:(i) business project loan, bond, or security that is issued, made, or purchased by the Community Development Administration under Title 4 of this article; or(ii) insurance, guaranty, or credit enhancement on a Program loan or business project under § 4-223 of this article; and(4) without approval or execution by the Board of Public Works, sell or assign any equity interest acquired under § 6-305(d) of this subtitle.(c) The Secretary, on the recommendation of the Interagency Food Desert Advisory Committee established under § 6-308.2 of this subtitle, may designate an area as a food desert after considering the following factors:(1) availability of fresh fruit, vegetables, and other healthy foods in the area;(2) income levels of local residents;(3) transportation needs of local residents and the availability of public transportation;(4) comments from local governments; and(5) any other factors that the Department considers relevant.Amended by 2022 Md. Laws, Ch. 380, Sec. 1, eff. 7/1/2022.Amended by 2019 Md. Laws, Ch. 573, Sec. 1, eff. 6/1/2019.Amended by 2019 Md. Laws, Ch. 572, Sec. 1, eff. 6/1/2019.Amended by 2017 Md. Laws, Ch. 636, Sec. 1, eff. 10/1/2017.Amended by 2016 Md. Laws, Ch. 482, Sec. 2, eff. 7/1/2016.Amended by 2016 Md. Laws, Ch. 8, Sec. 1, eff. 3/14/2016.Amended by 2014 Md. Laws, Ch. 228, Sec. 1, eff. 10/1/2014.