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1523
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HARRY HUGHES, Governor
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(14) For the taxable years 1982, 1983, and 1984 only,
an amount in each year respectively not to exceed 1/3 of the
total amount of subsistence allowance received by any member of
the Maryland State Police force for the taxable years 1974
through 1977 and included in Maryland taxable, income; provided
that, for purposes of computing the total subsistence allowance,
no amount received in excess of $1,600 for any 1 year shall be
taken into account[.]; AND
(15) EXPENSES INCURRED FOR REFORESTATION OR TIMBER
STAND IMPROVEMENT ACTIVITY AS DETERMINED UNDER THE PROVISIONS OF
SECTIONS 280C AND 280D OF THIS SUBTITLE.
280A.
(c) There shall be subtracted from taxable income of the
taxpayer the following items to the extent included in federal
income: (6) to the extent included, any profit realized from the
sale or exchange of bonds issued by this State or its political
subdivisions; [and] (7) to the extent that the dividends are
included in taxable income, the percentage of dividends received
from an affiliated domestic international sales corporation (as
defined by Internal Revenue Code of 1954 Section 992(a)), which
is equivalent to the percentage that would be excluded if the
domestic international sales corporation was not qualified, under
Section 992(a). However, this exclusion shall be available only
if at least 50 percent of the net taxable income of the domestic
international sales corporation is subject to Maryland
taxation[.]; AND (8) EXPENSES INCURRED FOR REFORESTATION OR
TIMBER STAND IMPROVEMENT ACTIVITY AS DETERMINED UNDER THE
PROVISIONS OF SECTIONS 280C AND 280D OF THIS SUBTITLE.
323C. 280C.
(A) AS USED IN SECTION 323D 280D OF THIS SUBTITLE, THE
FOLLOWING WORDS HAVE THE MEANINGS INDICATED.
(B) "COMMERCIAL FOREST LAND" MEANS LAND THAT IS:
(1) CAPABLE OF GROWING MORE THAN 20 CUBIC FEET OF
WOOD PER ACRE PER YEAR; AND
(2) AVAILABLE FOR THE APPLICATION OF SCIENTIFIC
FOREST MANAGEMENT PRACTICES FOR THE PRIMARY PURPOSE OF GROWING
AND HARVESTING FOREST TREE SPECIES.
(C) "FINAL CERTIFICATION" MEANS A FINAL CERTIFICATION,
UNDER RULES ISSUED BY THE DEPARTMENT OF NATURAL RESOURCES, WITHIN
2 YEARS OF THE INITIAL CERTIFICATION DETERMINED BY THE DEPARTMENT
OF NATURAL RESOURCES IN ACCORDANCE WITH RULES ISSUED BY THAT
DEPARTMENT, THAT:
(1) SEEDLINGS ARE LIVING WITHOUT OTHER VEGETATION
GROWING AROUND OR OVER THE SEEDLING; OR
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