(a) The General Assembly finds that: (1) the economy of the State and its local governments will be greatly impacted by the closure or realignment of any military installation through any base realignment or closing action; (2) although a closure or realignment will result in economic contraction and dislocation, it also affords opportunities to expand productive employment and expand the State's economy and tax base; (3) for this reason, the General Assembly enacted the Maryland Military Installation Strategic Planning Council Act; and (4) the establishment of State-chartered public corporations to develop military installations slated for closure or realignment in the State would: (i) serve the public interest; (ii) complement existing State marketing programs administered by the Department through: 1. its Division of Business Development; and 2. financial assistance programs such as those of the Maryland Economic Development Assistance Authority and Fund and the Maryland Industrial Development Financing Authority; and (iii) serve as an additional means to achieve the mission of the Maryland Military Installation Council. (b) The General Assembly intends that: (1) an authority structure its projects to accelerate the transfer of facilities and sites from the federal government into productive reuse of the facilities and sites to maximize economic opportunities for the residents of the State; and (2) this subtitle be a template for the structure, authorization, and operation of each authority accepted by the Office of Economic Adjustment of the United States Department of Defense to perform the tasks required when land is transferred from the federal government to an authority in accordance with the federal Defense Base Closure and Realignment Act of 1990.
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