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2006 LAWS OF MARYLAND
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Ch. 129
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(I) FOR AN ENERGY PRODUCER, BE IN AN AMOUNT EQUAL TO THE
LESSER OF:
1. THE PRODUCT OF MULTIPLYING 10 5 TIMES THE
TAXPAYER'S ESTIMATED ANNUAL TAX CREDIT, BASED ON ESTIMATED ANNUAL
ENERGY PRODUCTION, AS CERTIFIED BY THE ADMINISTRATION; OR
2. $10,000,000; AND $2,500,000.
(II) FOR A QUALIFIED ENERGY AGGREGATOR OR BROKER, BE IN AN
AMOUNT EQUAL TO THE LESSER OF:
1. THE PRODUCT OF MULTIPLYING 10 TIMES THE
TAXPAYER'S ESTIMATED ANNUAL TAX CREDIT, BASED ON ESTIMATED ANNUAL
ENERGY PURCHASES, AS CERTIFIED BY THE ADMINISTRATION; OR
2. $5,000,000.
(4) (I) THE ADMINISTRATION MAY NOT ISSUE INITIAL CREDIT
CERTIFICATES FOR MAXIMUM CREDIT AMOUNTS IN THE AGGREGATE TOTALING
MORE THAN $100,000,000 $25,000,000.
(II) THE ADMINISTRATION MAY NOT ISSUE INITIAL CREDIT
CERTIFICATES TO QUALIFIED ENERGY AGGREGATORS OR BROKERS TOTALING MORE
THAN 10% OF THE LIMIT SPECIFIED IN ITEM (I) OF THIS PARAGRAPH.
(5) THE ADMINISTRATION SHALL APPROVE ALL APPLICATIONS THAT
QUALIFY FOR AN INITIAL CREDIT CERTIFICATE UNDER THIS SUBSECTION ON A
FIRST-COME, FIRST-SERVED BASIS.
(6) IF A TAXPAYER OVER A 3-YEAR PERIOD DOES NOT CLAIM ON
AVERAGE AT LEAST 5% 10% OF THE MAXIMUM CREDIT AMOUNT STATED IN THE
INITIAL CREDIT CERTIFICATE, THE ADMINISTRATION AT ITS DISCRETION MAY
CANCEL AN AMOUNT OF THE TAXPAYER'S INITIAL CREDIT CERTIFICATE EQUAL TO
THE PRODUCT OF MULTIPLYING:
(I) THE AMOUNT OF THE CREDIT ON AVERAGE THAT WAS NOT
CLAIMED OVER THE 3-YEAR PERIOD; AND
(II) THE REMAINING NUMBER OF TAX YEARS THAT THE TAXPAYER
IS ELIGIBLE TO TAKE THE CREDIT.
(7) AN APPLICANT FOR AN INITIAL CREDIT CERTIFICATE OR A
TAXPAYER WHOSE CREDITS HAVE BEEN CANCELED UNDER PARAGRAPH (6) OF THIS
SUBSECTION, MAY APPEAL A DECISION BY THE ADMINISTRATION TO THE OFFICE OF
ADMINISTRATIVE HEARINGS FN ACCORDANCE WITH TITLE 10, SUBTITLE 2 OF THE
STATE GOVERNMENT ARTICLE.
(8) THE ADMINISTRATION MAY NOT ISSUE AN INITIAL CREDIT
CERTIFICATE AFTER DECEMBER 31, 2010.
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- 782 -
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