WILLIAM DONALD SCHAEFER, Governor Ch. 110

2. THE CUMULATIVE NET OPERATING LOSS
DEDUCTIONS ATTRIBUTABLE TO THAT LOSS YEAR ALLOWED FOR THE TAXABLE
YEAR AND ALL PRIOR TAXABLE YEARS.

10-306.

(a)   In addition to the modification under § 10-305 of this
subtitle, the amounts under this section are added to the federal
taxable income of a corporation to determine Maryland modified
income.

(b)  The addition under subsection (a) of this section
includes the additions required for an individual under;

(1)  § 10-206(b) of this title (Enterprise zone wage
credit); [and]

(2)  § 10-206(c) of this title (Reforestation and
timber stand modification); AND

(3)  § 10-206(E) OF THIS TITLE (NET OPERATING LOSS
MODIFICATION).

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
apply to all fiscal years of financial institutions beginning
after December 31, 1987.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act is an

emergency measure, is necessary for the immediate preservation of
the public health and safety, has been passed by a yea and nay
vote supported by three-fifths of all the members elected to each
of the two Houses of the General Assembly, and shall take effect
from the date it is enacted. take effect June 1, 1989 and shall
be applicable to all taxable years to the extent that a net
operating loss deduction in the taxable year is attributable to a
net operating loss occurring in a taxable year beginning after
December 31, 1988.

Approved May 5, 1989.

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