WILLIAM DONALD SCHAEFER, Governor                   Ch. 719

OR REASONABLY ATTRIBUTABLE TO TRADE OR BUSINESS CARRIED ON IN THE
STATE SHALL BE DETERMINED USING A 3-FACTOR FORMULA THAT EQUALLY
WEIGHS PROPERTY, PAYROLL, AND SALES.

(2) THE PROPERTY FACTOR UNDER PARAGRAPH (1) OF THIS
SUBSECTION SHALL INCLUDE:

(I)  RENTED AND OWNED REAL PROPERTY; AND

(II)  TANGIBLE PERSONAL PROPERTY LOCATED IN THE
STATE AND USED IN THE TRADE OR BUSINESS.

(D) TO REFLECT CLEARLY THE INCOME ALLOCABLE TO MARYLAND,
THE COMPTROLLER MAY, WHERE CIRCUMSTANCES WARRANT, ALTER THE
METHODS UNDER SUBSECTIONS (B) AND (C) OF THIS SECTION, INCLUDING:

(1)  THE USE OF THE SEPARATE ACCOUNTING METHOD;

(2)  THE USE OF THE 3-FACTOR FORMULA METHOD;

(3)  THE WEIGHT OF ANY FACTOR IN THE 3-FACTOR FORMULA;

(4)  THE VALUATION OF RENTED PROPERTY INCLUDED IN THE
PROPERTY FACTOR; AND

(5)  THE DETERMINATION OF THE EXTENT TO WHICH TANGIBLE
PERSONAL PROPERTY IS LOCATED IN THE STATE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1987 and shall be applicable to all taxable
years beginning after December 31, 1986.

Approved June 2, 1987.

CHAPTER 719

(House Bill 1268)

AN ACT concerning

Income Tax - Enterprise Zone Wage Credit

FOR the purpose of providing for a certain time in which certain
employees may not be hired to replace certain other
employees as an eligibility criteria for an income tax
credit based on certain amounts of the enterprise zone
wages; and providing for the application of this Act.

BY repealing and reenacting, with amendments,

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