WILLIAM DONALD SCHAEFER, Governor

Ch. 832

CHAPTER 832

(Senate Bill 525)

AN ACT concerning

Tax Credits for Purchase of Maryland-Mined Coal

FOR the purpose of altering a certain credit that a public
service company may claim against the public service company
franchise tax in order to repeal a provision allowing a
credit for certain energy that was produced from
Maryland-mined coal and purchased by certain cogenerators or
small power producers; allowing certain cogenerators and
small power producers a credit against the State income tax
in a certain amount for a certain portion each ton of
Maryland-mined coal purchased by the cogenerator; providing
that unused credit may be carried forward to certain
succeeding taxable years; requiring that certain information
be provided; providing for application and termination of
this Act; and generally relating to certain tax credits for
certain purchases of Maryland-mined coal.

BY repealing and reenacting, with amendments,

Article - Tax - General
Section 8-406(b) and 10-706(b)
Annotated Code of Maryland
(1988 Volume)

BY repealing

Article - Tax - General
Section 8-406(c)
Annotated Code of Maryland
(1988 Volume)

BY adding to

Article - Tax - General
Section 10-704.1
Annotated Code of Maryland
(1988 Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - General

8-406.

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