Ch. 84

1996 LAWS OF MARYLAND

2. AT LEAST 30 QUALIFIED POSITIONS IF THE AGGREGATE
PAYROLL FOR THE QUALIFIED POSITIONS IS GREATER THAN A THRESHOLD AMOUNT
EQUAL TO THE PRODUCT OF MULTIPLYING 60 TIMES THE STATE'S AVERAGE ANNUAL
SALARY, AS DETERMINED BY THE DEPARTMENT; AND

(II) IS ENGAGED IN:

1.        MANUFACTURING OR MINING;

2.        TRANSPORTATION OR COMMUNICATIONS;

3.        AGRICULTURE. FORESTRY, OR FISHING;

4. RESEARCH, DEVELOPMENT, OR TESTING;

5. BIOTECHNOLOGY;

6. COMPUTER PROGRAMMING, DATA PROCESSING, OR OTHER
COMPUTER RELATED SERVICES;

7. CENTRAL FINANCIAL REAL ESTATE, OR INSURANCE
SERVICES;

8. THE OPERATION OF CENTRAL ADMINISTRATIVE OFFICES OR
A COMPANY HEADQUARTERS;

9. A PUBLIC UTILITY;

10. WAREHOUSING; OR

11. OPERATION OF ENTERTAINMENT RECREATION, CULTURAL
OR TOURISM-RELATED ACTIVITIES IN A MULTIUSE FACILITY LOCATED WITHIN A
REVITALIZATION AREA IF THE FACILITY GENERATES A MINIMUM OF 1,000 NEW
FULL-TIME EQUIVALENT FILLED POSITIONS IN A 24-MONTH PERIOD AND IS NOT
PRIMARILY USED BY A PROFESSIONAL SPORTS FRANCHISE OR FOR GAMING.

(3) THE TERMS USED IN PARAGRAPH (2) (II) OF THIS SUBSECTION TO REFER
TO VARIOUS TYPES OF BUSINESSES SHALL HAVE THE SAME MEANINGS AS THOSE TERMS
WHICH ARE COMMONLY DEFINED IN THE STANDARD INDUSTRIAL CLASSIFICATION
MANUAL.

(C) (1) A QUALIFIED BUSINESS ENTITY MAY CLAIM A TAX CREDIT IN THE
AMOUNT DETERMINED UNDER THIS SECTION

(2) (I) EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, THE CREDIT
EARNED UNDER THIS SECTION EQUALS THE LESSER OF;

1.        $1,000 MULTIPLIED TIMES THE NUMBER OF QUALIFIED
EMPLOYEES EMPLOYED BY THE QUALIFIED ENTITY DURING THE CREDIT YEAR; AND

2.        25% OF THE WAGES PAID BY THE QUALIFIED BUSINESS
ENTITY DURING THE CREDIT YEAR TO THE QUALIFIED EMPLOYEES.

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