Ch. 636                                    1996 LAWS OF MARYLAND

(I)      THE STATE INCOME TAX ON CORPORATIONS;

(II)    THE FINANCIAL INSTITUTION FRANCHISE TAX;

(III) THE PUBLIC SERVICE COMPANY FRANCHISE TAX; OR
(IV) THE INSURANCE PREMIUMS TAX.

(D)    "CONTRIBUTION" MEANS A DONATION BY A BUSINESS ENTITY OF MONEY,
OR GOODS, OR SERVICES OF AT LEAST $500 IN VALUE TO AN APPROVED PROJECT.

(E)     "DESIGNATED REVITALIZATION AREA" MEANS A DESIGNATED
NEIGHBORHOOD UNDER § 2-1303(B) OF THIS ARTICLE

(F)     "INDIVIDUAL OF LIMITED INCOME" MEANS AN INDIVIDUAL WHOSE
INCOME DOES NOT EXCEED THE UPPER INCOME LIMITS ESTABLISHED BY THE
SECRETARY UNDER § 2-203 OF THIS ARTICLE

(G)    "NONPROFIT ORGANIZATION" MEANS A NOT FOR PROFIT CORPORATION,
FOUNDATION, OR OTHER LEGAL ENTITY IN WHICH NO PART OF THE NET EARNINGS
INURES TO THE BENEFIT OF ANY SHAREHOLDER OR INDIVIDUAL THAT IS EXEMPT
FROM FEDERAL INCOME TAX UNDER § 501(C)(3) OF THE INTERNAL REVENUE CODE.

(H) "REDEVELOPMENT ASSISTANCE" MEANS THE FURNISHING OF FINANCIAL
ASSISTANCE, LABOR, MATERIAL, AND TECHNICAL ADVICE TANGIBLE PERSONAL
PROPERTY TO AID IN THE PHYSICAL IMPROVEMENT OF ANY PART OR ALL OF A
DESIGNATED REVITALIZATION AREA.

4-702.

THERE IS A NEIGHBORHOOD AND COMMUNITY ASSISTANCE PROGRAM.

4-703.

THE PURPOSE OF THE NEIGHBORHOOD AND COMMUNITY ASSISTANCE
PROGRAM IS TO:

(1)     ASSIST NONPROFIT ORGANIZATIONS IN CARRYING OUT APPROVED
PROJECTS IN DESIGNATED REVITALIZATION AREAS;

(2)     ENCOURAGE BUSINESSES TO INVEST IN DESIGNATED
REVITALIZATION AREAS; AND

(3)     STRENGTHEN PUBLIC/PRIVATE PARTNERSHIPS.
4-704.

(A) (1) EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, A BUSINESS
ENTITY MAY CLAIM A TAX CREDIT IN THE AMOUNT DETERMINED UNDER
SUBSECTION (B) OF THIS SECTION FOR MONEY OR RESOURCES CONTRIBUTED
CONTRIBUTIONS TO AN APPROVED PROJECT.

(2) THE TAX CREDIT ALLOWED UNDER THIS SECTION SHALL BE
APPLIED IN THE FOLLOWING ORDER UNTIL USED AGAINST;

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