(a) The Commission shall have the general purpose of establishing economic
development policy in the State and overseeing the Department's efforts
to attract, retain, and support the creation of businesses and jobs.
(b) The Commission shall:
(1) Develop and update a strategic plan for economic development in the
State;
(2) Recommend to the Governor program and spending priorities necessary to
implement the strategic plan;
(3) Approve Department regulations pertaining to financing programs prior
to their adoption;
(4) Review the allocation of financing incentives;
(5) Participate in marketing the State and encouraging new businesses to
locate in Maryland;
(6) Raise private sector contributions and funds to supplement economic
development programs and financial incentives to business;
(7) Carry out any other economic development activities at the request of
the Governor; and
(8) Exercise those powers granted to the Commission by this title or any
other provision of law.
(c) In developing a strategic plan for economic development, the Commission
shall seek ideas and advice from each region of the State.
(d) The Department shall provide staff support to the Commission.
(e) The Commission may elect an executive committee from among its members
that, during the intervals between meetings of the Commission, may
exercise all the powers and functions of the Commission.
(f) In addition to any other powers set forth in this title, the Commission
may:
(1) Adopt bylaws to regulate its affairs and the conduct of its business;
(2) Contract for and engage the services of consultants; and
(3) Do anything necessary or convenient to carry out its powers and the
purposes of this title.
(g) Funds raised by the Commission under subsection (b) of this section may
be expended only through an approved budget amendment.
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