Maryland Code, LOCAL GOVERNMENT 20-415.1
Terms Used In Maryland Code, LOCAL GOVERNMENT 20-415.1
- County: means a county of the State or Baltimore City. See
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(b) There is a Tourism Development Incentive Fund.
(c) The Tourism Development Incentive Fund shall be distributed as follows:
(1) to the general fund of the county, a reasonable amount for the administration of the hotel rental tax;
(2) after the distribution required under item (1) of this subsection, to a municipality, the revenue attributable to a hotel located in the municipality; and
(3) the remainder to:
(i) subject to subsection (d) of this section, provide grants to businesses and organizations to pay the application and permit fees required by the county to hold a special event in the county; and
(ii) market Calvert County to potential visitors.
(d) Grants provided for under subsection (c)(3) of this section may be awarded only to applicants that meet criteria adopted by the county.
(e) After the distributions required under subsection (c) of this section, any unexpended funds at the end of each fiscal year shall be distributed to the general fund of the county.