PARRIS N. GLENDENING, Governor

Ch. 84

(II)    FOR QUALIFIED EMPLOYEES WORKING IN A FACILITY LOCATED
IN A REVITALIZATION AREA, THE CREDIT EARNED UNDER THIS SECTION EQUALS THE
LESSER OF:

1.        $1,500 MULTIPLIED TIMES THE NUMBER OF QUALIFIED
EMPLOYEES EMPLOYED BY THE QUALIFIED ENTITY DURING THE CREDIT YEAR; AND

2. 5% OF THE WAGES PAID BY THE QUALIFIED BUSINESS
ENTITY DURING THE CREDIT YEAR TO THE QUALIFIED EMPLOYEES.

(III)   1. FOR EACH FULL-TIME OR PART-TIME EMPLOYEE
EMPLOYED BY A QUALIFIED BUSINESS ENTITY DURING THE CREDIT YEAR IF THE
EMPLOYEE IS A DISABLED INDIVIDUAL WITHIN THE MEANING OF § 21-401 OF THE
EDUCATION ARTICLE THE CREDIT EARNED UNDER THIS SECTION EQUALS THE LESSER
OF $1,500 OR 5% OF THE WAGES PAID TO THE EMPLOYEE, WHETHER OR NOT THE
INDIVIDUAL ISA QUALIFIED EMPLOYEE.

2.        EACH EMPLOYEE FOR WHOM THE CREDIT UNDER THIS
SUBPARAGRAPH IS CLAIMED SHALL BE CERTIFIED AS A DISABLED INDIVIDUAL BY THE
DEPARTMENT IN COOPERATION WITH THE APPROPRIATE STATE AGENCIES.

(3) THE CREDIT EARNED UNDER PARAGRAPH (2) OF THIS SUBSECTION
SHALL BE ALLOWED RATABLY, WITH ONE-HALF OF THE CREDIT AMOUNT ALLOWED
ANNUALLY FOR 2 YEARS BEGINNING WITH THE CREDIT YEAR.

(4) THE CREDIT EARNED BY A QUALIFIED BUSINESS ENTITY UNDER THIS
SUBTITLE MAY NOT EXCEED $1,000,000 FOR ANY CREDIT YEAR

(5) THE SAME CREDIT CANNOT BE APPLIED MORE THAN ONCE AGAINST
DIFFERENT TAXES BY THE SAME TAXPAYER

(6) (I) TO BE CERTIFIED AS A QUALIFIED BUSINESS ENTITY, A BUSINESS
ENTITY SHALL SUBMIT THE FOLLOWING TO THE DEPARTMENT IN ACCORDANCE WITH
REGULATIONS ADOPTED BY THE DEPARTMENT:

1. THE EFFECTIVE DATE OF THE START-UP OR EXPANSION;

2. THE NUMBER OF FULL-TIME EMPLOYEES PRIOR TO THE
START-UP OR EXPANSION AND THE PAYROLL OF THE EXISTING EMPLOYEES;

3. THE NUMBER OF QUALIFIED POSITIONS CREATED
QUALIFIED EMPLOYEES HIRED, AND THE PAYROLL OF THOSE EMPLOYEES; AND

4. ANY OTHER INFORMATION THAT THE DEPARTMENT
REQUIRES BY REGULATION

(II) THE DEPARTMENT MAY REQUIRE ANY INFORMATION REQUIRED
UNDER IMS PARAGRAPH TO BE VERIFIED BY AN INDEPENDENT AUDITOR SELECTED BY
THE BUSINESS ENTITY.

(7) A QUALIFIED BUSINESS ENTITY MUST OBTAIN, AND SUBMIT TO THE
APPROPRIATE STATE AGENCY WITH THE TAX RETURN ON WHICH THE CREDIT IS

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