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ROBERT L. EHRLICH, JR., Governor Ch. 129
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(C) (1) EXCEPT AS PROVIDED IN PARAGRAPH (3) OF THIS SUBSECTION, AN
INDIVIDUAL OR CORPORATION THAT IS A QUALIFIED ENERGY AGGREGATOR OR
BROKER AND THAT RECEIVES AN INITIAL CREDIT CERTIFICATE FROM THE
ADMINISTRATION MAY CLAIM A CREDIT AGAINST THE STATE INCOME TAX FOR A
TAXABLE YEAR IN AN AMOUNT EQUAL TO 0.5 CENTS FOR EACH KILOWATT HOUR OF
ELECTRICITY;
(I) PRODUCED FROM QUALIFIED ENERGY RESOURCES AT A
QUALIFIED MARYLAND FACILITY DURING THE 10-YEAR PERIOD SPECIFIED IN THE
INITIAL CREDIT CERTIFICATE;
(II) PURCHASED BY THE QUALIFIED ENERGY AGGREGATOR OR
BROKER; AND
(III) SOLD BY THE QUALIFIED ENERGY AGGREGATOR OR BROKER
TO AN ENERGY CONSUMER LOCATED IN MARYLAND, OTHER THAN A RELATED
PERSON, WITHIN THE MEANING OF § 15 OF THE INTERNAL REVENUE CODE, DURING
THE TAXABLE YEAR
(2) THE ANNUAL TAX CREDIT UNDER THIS SUBSECTION MAY NOT,
EXCEED ONE TENTH OF THE MAXIMUM AMOUNT OF CREDIT STATED IN THE INITIAL
CREDIT CERTIFICATE.
(3) A TAX CREDIT UNDER THIS SUBSECTION MAY BE TAKEN IN
ADDITION TO ANY TAX CREDIT TAKEN UNDER SUBSECTION (B) OF THIS SECTION FOR
ELECTRICITY PRODUCED FROM QUALIFIED ENERGY RESOURCES.
(D) (C) (1) SUBJECT TO THE PROVISIONS OF THIS SUBSECTION, ON
APPLICATION BY A TAXPAYER, THE ADMINISTRATION SHALL ISSUE AN INITIAL
CREDIT CERTIFICATE IF THE TAXPAYER HAS DEMONSTRATED THAT THE TAXPAYER
WILL WITHIN THE NEXT 12 MONTHS:
(I) PRODUCE ELECTRICITY FROM QUALIFIED ENERGY RESOURCES
AT A QUALIFIED MARYLAND FACILITY; OR.
(II) PURCHASE ELECTRICITY AS A QUALIFIED ENERGY
AGGREGATOR OR BROKER.
(2) THE INITIAL CREDIT CERTIFICATE ISSUED UNDER THIS SUBSECTION
SHALL:
(I) STATE THE MAXIMUM AMOUNT OF CREDIT THAT MAY BE
CLAIMED BY THE TAXPAYER OVER A 10 YEAR 5-YEAR PERIOD;
(II) STATE THE EARLIEST TAX YEAR FOR WHICH THE CREDIT MAY
BE CLAIMED; AND
(III) EXPIRE AFTER THE 10TH 5TH CONSECUTIVE TAX YEAR
BEGINNING WITH THE EARLIEST TAX YEAR FOR WHICH THE CREDIT MAY BE
CLAIMED.
(3) THE MAXIMUM AMOUNT OF CREDIT STATED IN THE INITIAL CREDIT
CERTIFICATE SHALL:
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