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Ch. 444 2005 LAWS OF MARYLAND
(IV) SUBJECT TO SUBPARAGRAPH (VIII) OF THIS PARAGRAPH. THE
TOTAL AMOUNT OF CREDITS APPROVED BY THE DEPARTMENT UNDER THIS
SUBSECTION FOR ANY CALENDAR YEAR MAY NOT EXCEED:
1. $90,000,000 FOR A CALENDAR YEAR BEGINNING AFTER
DECEMBER 31, 2006 BUT BEFORE JANUARY 1, 2011;
2. $4,200,000 FOR A CALENDAR YEAR BEGINNING AFTER
DECEMBER 31, 2010 BUT BEFORE JANUARY 1, 2015; AND
3. $2,100,000 FOR A CALENDAR YEAR BEGINNING AFTER
DECEMBER 31, 2014 BUT BEFORE JANUARY 1, 2021.
(V) THE DEPARTMENT MAY NOT APPROVE ANY CREDITS UNDER
THIS SUBSECTION FOR A CALENDAR YEAR BEGINNING AFTER DECEMBER 31, 2020.
(VI) SUBJECT TO SUBPARAGRAPH (VIII) OF THIS SUBSECTION, IF
THE TOTAL AMOUNT OF CREDITS APPLIED FOR BY ALL PUBLIC SERVICE COMPANIES
FOR ANY CALENDAR YEAR UNDER THIS SUBSECTION EXCEEDS THE MAXIMUM
SPECIFIED UNDER SUBPARAGRAPH (IV) OF THIS PARAGRAPH. THE DEPARTMENT
SHALL APPROVE A CREDIT UNDER THIS SUBSECTION FOR EACH APPLICANT IN AN
AMOUNT EQUAL TO THE PRODUCT OF MULTIPLYING THE CREDIT APPLIED FOR BY
THE APPLICANT TIMES A FRACTION:
1. THE NUMERATOR OF WHICH IS THE MAXIMUM SPECIFIES
UNDER SUBPARAGRAPH (IV) OF THIS PARAGRAPH; AND
2. THE DENOMINATOR OF WHICH IS THE TOTAL OF ALL
CREDITS APPLIED FOR BY ALL APPLICANTS UNDER THIS SUBSECTION FOR THE
CALENDAR YEAR.
(VII) BY FEBRUARY 15 OF THE CALENDAR YEAR FOLLOWING THE
END OF THE CALENDAR YEAR IN WHICH THE MARYLAND MINED COAL WAS
PURCHASED. THE DEPARTMENT SHALL CERTIFY TO EACH PUBLIC SERVICE
COMPANY THE AMOUNT OF THE TAX CREDITS APPROVED BY THE DEPARTMENT FOR
THE PUBLIC SERVICE COMPANY UNDER THIS SUBSECTION.
(VIII) 1. OF THE TOTAL CREDITS APPROVED FOR ANY CALENDAR
YEAR BEGINNING AFTER DECEMBER 31, 2006 BUT BEFORE JANUARY 1, 2021, $2,100,000
OF THE CREDITS SHALL BE RESERVED FOR PURCHASES OF MARYLAND MINED COAL
THAT WILL BE USED BY A FACILITY IN MARYLAND.
2. IF THE TOTAL AMOUNT OF CREDITS APPLIED FOR BY ALL
PUBLIC SERVICE COMPANIES FOR ANY CALENDAR YEAR FOR THE PURCHASE OF
MARYLAND MINED COAL THAT WILL BE USED IN MARYLAND EXCEEDS $2,100,000
THE DEPARTMENT SHALL APPROVE A CREDIT UNDER THIS SUBPARAGRAPH FOR
EACH APPLICANT IN AN AMOUNT EQUAL TO THE PRODUCT OF MULTIPLYING THE
CREDIT APPLIED FOR BY THE APPLICANT TIMES A FRACTION;A. THE NUMERATOR OF WHICH IS $2,100,000; AND
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