Ch. 636

1996 LAWS OF MARYLAND

CHAPTER 636
(House Bill 820)

AN ACT concerning

Neighborhood and Community Assistance Program - Tax Credits

FOR the purpose of establishing the Neighborhood and Community Assistance Program
within the Department of Housing and Community Development; allowing certain
business entities to claim a tax credit against certain State taxes for certain
contributions to certain neighborhood and community assistance projects; providing
for the calculation of the credit; limiting the amount of the credit that may be
claimed by a business entity for any taxable year; providing for the carryover of
excess credit to certain taxable years; limiting eligibility for the tax credit to projects
and contributions approved by the Department; requiring the Department to submit
certain reports to certain State entities by a certain date each year; authorizing the
Department to approve certain projects and certain contributions to projects under
certain circumstances: providing that a certain tax credit may not be applied more than
once against different taxes by the same taxpayer; requiring that a certain study be
conducted by certain departments and provided to certain committees of the General
Assembly by a certain date; requiring the Department to adopt certain regulations;
defining certain terms; providing for the future codification of certain provisions of
this Act; providing for the application of this Act; and generally relating to the
Neighborhood and Community Assistance Program.

BY repealing and reenacting, with amendments,

Article 83B - Department of Housing and Community Development

Section 4-101(b)

Annotated Code of Maryland

(1995 Replacement Volume)                                                        

BY adding to

Article 83B - Department of Housing and Community Development

Section 4-701 through 4-706, inclusive, to be under the new subtitle "Subtitle 7.

Neighborhood and Community Assistance Program"
Annotated Code of Maryland
(1995 Replacement Volume)

BY repealing and reenacting, with amendments,
Article 48A - Insurance Code
Section 634

Annotated Code of Maryland
(1994 Replacement Volume and 1995 Supplement)

BY adding to

Article - Tax - General

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