HARRY HUGHES, Governor

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(ii) Up to $1,000 of the wages paid in the
taxable year for which the credit is claimed to each qualified
employee who is an economically disadvantaged individual, if the
business entity received a credit under paragraph (l)(i) for the
qualified employee in the immediately preceding taxable year; and

(iii) Up to $500 of the wages paid in the
taxable year for which the credit is claimed to each qualified
employee who is not hired to replace an individual who was
employed by the business entity in that or any preceding taxable
year and who:

1.  Is an economically disadvantaged
individual, if the business entity received a credit under
paragraphs (l)(i) and (2)(ii) for the qualified employee in the 2
immediately preceding taxable years; or

2.  Is not an economically disadvantaged
individual, if the qualified employee became a qualified employee
during the taxable year to which the credit applies.

(c)  If the tax credits available under this section in any
taxable year exceed the tax imposed by § 288 of this article for
that taxable year, the excess may be applied by the business
entity as a credit against the tax imposed by § 288 of this
article for the next succeeding taxable year or until:

(1)  All the excess is fully applied; or

(2)  The expiration of the fifth taxable year from the
date the qualified employee to which such credit first applies
was hired by the business entity, whichever occurs first.

(d)  Whenever a credit against income tax is claimed under
this section, an appropriate modification must be made in the
taxable year for which the wages claimed as a credit were paid,
increasing the taxable income base to the extent of the credit
claimed.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 29, 1984.

CHAPTER 713
(House Bill 1614)
AN ACT concerning

Workmen's Compensation - Subsequent Injury Fund