PARRIS N. GLENDENING, Governor

Ch. 538

(3) SPONSORSHIP BY THE BUSINESS ENTITY OF BUSINESS-SPECIFIC
TRAINING DEVELOPED OR CONDUCTED BY THE FACULTY OF THE INSTITUTION.

(D) (1) EXCEPT AS PROVIDED IN SUBSECTION (E) OF THIS SECTION, A
BUSINESS ENTITY MAY CLAIM A TAX CREDIT IN THE AMOUNT DETERMINED UNDER
PARAGRAPH (2) OF THIS SUBSECTION FOR AMOUNTS PAID BY THE BUSINESS ENTITY
PURSUANT TO AN AGREEMENT WITH A PUBLIC SENIOR HIGHER EDUCATION
INSTITUTION OF THE STATE UNDER THE PARTNERSHIPS PROGRAM.

(2) THE AMOUNT OF THE TAX CREDIT ALLOWED UNDER PARAGRAPH
(1) OF THIS SUBSECTION IS:

(I) 20% OF UP TO THE FIRST $10,000 PAID BY A BUSINESS ENTITY IN
THE FIRST YEAR OF AN AGREEMENT UNDER THE PARTNERSHIPS PROGRAM; AND

(II) 10% OF UP TO THE FIRST $10,000 PAID BY A BUSINESS ENTITY IN
THE SECOND YEAR OF AN AGREEMENT UNDER THE PARTNERSHIPS PROGRAM

(3)     THE AMOUNTS PAID BY A BUSINESS ENTITY THAT ARE ELIGIBLE
FOR THE TAX CREDIT UNDER THIS SUBSECTION MAY INCLUDE AMOUNTS THAT
PURSUANT TO AN AGREEMENT WITH A PUBLIC SENIOR HIGHER EDUCATION
INSTITUTION UNDER THE PARTNERSHIPS PROGRAM ARE PAID:

(I) TO THE INSTITUTION; OR

(II) DIRECTLY TO A GRADUATE STUDENT OF THE INSTITUTION.

(4)     THE SAME TAX CREDIT MAY NOT BE APPLIED MORE THAN ONCE
AGAINST DIFFERENT TAXES.

(5) IF THE CREDIT ALLOWED UNDER THIS SUBSECTION IN ANY
TAXABLE YEAR EXCEEDS THE TOTAL TAX OTHERWISE PAYABLE BY THE BUSINESS
ENTITY FOR THAT TAXABLE YEAR, THE EXCESS SHALL BE REFUNDED TO THE
BUSINESS ENTITY.

(E) THE TAX CREDIT AUTHORIZED UNDER THIS SECTION SHALL BE
ALLOWED ONLY FOR TAXABLE YEARS BEGINNING ON OR BEFORE DECEMBER 31,

2001.

Article—Tax—General

8-214.

A FINANCIAL INSTITUTION MAY CLAIM A CREDIT AGAINST THE FINANCIAL
INSTITUTION FRANCHISE TAX FOR AMOUNTS PAID PURSUANT TO AN AGREEMENT
WITH A PUBLIC SENIOR HIGHER EDUCATION INSTITUTION OF THE STATE UNDER
THE HIGHER EDUCATION/BUSINESS PARTNERSHIPS PROGRAM AS PROVIDED UNDER
§ 10-212 OF THE EDUCATION ARTICLE.

8-411.

A PUBLIC SERVICE COMPANY MAY CLAIM A CREDIT AGAINST THE PUBLIC
SERVICE COMPANY FRANCHISE TAX FOR AMOUNTS PAID PURSUANT TO AN
AGREEMENT WITH A PUBLIC SENIOR HIGHER EDUCATION INSTITUTION OF THE

- 3081 -