Ch. 538                                    1996 LAWS OF MARYLAND

STATE UNDER THE HIGHER EDUCATION/BUSINESS PARTNERSHIPS PROGRAM AS
PROVIDED UNDER § 10-212 OF THE EDUCATION ARTICLE.

10-707.

AN INDIVIDUAL OR CORPORATION MAY CLAIM A CREDIT AGAINST THE STATE
INCOME 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.

Article 48A—Insurance Code

632.

(E) AN INSURANCE COMPANY MAY CLAIM A CREDIT AGAINST THE PREMIUM
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.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows;

Article—Insurance

6-114.

AN INSURANCE COMPANY MAY CLAIM A CREDIT AGAINST THE PREMIUM 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.

SECTION 3. 2. AND BE IT FURTHER ENACTED, That the Department of
Fiscal Services, using information from the University of Maryland System, Morgan State
University, St. Mary's College, the Department of Business and Economic Development,
and appropriate representatives of the business community throughout the State and any
other relevant information, shall conduct a study of the efficacy and effectiveness of the
Higher Education/Business Partnerships Program and the tax credit established under
this Act in improving the accessibility of businesses to resources of the public senior
higher education institutions in the State and in fostering continuing links between the
institutions and the business community in the State. The Department of Fiscal Services
shall complete and present the results of the study to the Senate Budget and Taxation
Committee, the Senate Economic and Environmental Affairs Committee, and the House
Committee on Ways and Means by December 1, 2000.

SECTION 4. AND BE IT FURTHER ENACTED, That Section 2 shall take effect
October 1, 1997.

SECTION 5. 3. AND BE IT FURTHER ENACTED, That, except as provided in
Section 4 of this Act, this Act shall take effect July 1, 1996 and shall be applicable to all
taxable years beginning after December 31, 1996.

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