Section 6-401 - Definitions(a) In this subtitle the following words have the meanings indicated.(b) "Approved project" means a project that the Department approves under § 6-405 of this subtitle.(c) "Business entity" means a person that conducts a trade or business in the State and is subject to:(1) the State income tax on individuals or corporations;(2) the public service company franchise tax; or(3) the insurance premiums tax.(d) "Individual" means an individual as defined under § 10-101 of the Tax - General Article.(e) "Nonprofit organization" means a nonprofit corporation, foundation, or other legal entity that is exempt from federal income tax under § 501(c)(3) of the Internal Revenue Code.(f) "Priority funding area" means a priority funding area under § 5-7B-02 of the State Finance and Procurement Article.(g) "Redevelopment assistance" means the money that nonprofit organizations spend for labor and materials used directly in the physical improvement of part or all of a priority funding area.Amended by 2017 Md. Laws, Ch. 631,Sec. 1, eff. 10/1/2017.