Ch. 84                                     1996 LAWS OF MARYLAND

5-1103.

(A) SUBJECT TO THE PROVISIONS OF THIS SECTION, THE PROVISIONS OF THIS
SUBTITLE AND THE TAX CREDIT AUTHORIZED UNDER THIS SUBTITLE SHALL
TERMINATE AS OF JANUARY 1, 2004.

(B) (1) THE TAX CREDITS AUTHORIZED UNDER THIS SUBTITLE:

(I) MAY BE CLAIMED ONLY FOR QUALIFIED POSITIONS AT A
NEWLY ESTABLISHED OR EXPANDED FACILITY THAT COMMENCES OPERATIONS
BEFORE JANUARY 1, 2003; AND

(II) MAY NOT BE EARNED FOR ANY CREDIT YEAR BEGINNING ON
OR AFTER JANUARY 1, 2004.

(2) SUBJECT TO THE LIMITATIONS UNDER THIS SUBTITLE, FOR
TAXABLE YEARS BEGINNING ON OR AFTER JANUARY 1, 2004, TAX CREDITS EARNED
IN CREDIT YEARS BEGINNING BEFORE JANUARY 1, 2004:

(I) MAY BE CARRIED FORWARD AS PROVIDED IN § 5-1102 OF THIS
SUBTITLE: AND

(II) ARE SUBJECT TO RECAPTURE AS PROVIDED IN § 5-1102 OF THIS
SUBTITLE.

Article 48A - Insurance Code

632.

(E) AN INSURER MAY CLAIM A CREDIT AGAINST THE PREMIUM TAX FOR
WAGES PAID TO QUALIFIED EMPLOYEES AS PROVIDED UNDER ARTICLE 83A, § 5-1102
OF THE CODE.

Article—Tax - General

8-214.

A FINANCIAL INSTITUTION MAY CLAIM A CREDIT AGAINST THE FINANCIAL
INSTITUTION FRANCHISE TAX FOR WAGES PAID TO QUALIFIED EMPLOYEES AS
PROVIDED UNDER ARTICLE 83A, § 5-1102 OF THE CODE.

8-411.

A PUBLIC SERVICE COMPANY MAY CLAIM A CREDIT AGAINST THE PUBLIC
SERVICE COMPANY FRANCHISE TAX FOR WAGES PAID TO QUALIFIED EMPLOYEES
AS PROVIDED UNDER ARTICLE 83A, § 5-1102 OF THE CODE.

10-704.4.

AN INDIVIDUAL OR A CORPORATION MAY CLAIM A CREDIT AGAINST THE
INCOME TAX FOR WAGES PAID TO QUALIFIED EMPLOYEES AS PROVIDED UNDER
ARTICLE 83A, § 5-1102 OF THE CODE.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows;

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