PARRIS N. GLENDENING, Governor                                S.B. 558

5-1104.

(A) THE COMPTROLLER SHALL ADOPT REGULATIONS TO;

(1) PROVIDE FOR THE COMPUTATION, CARRYOVER, AND RECAPTURE
OF THE CREDIT UNDER THIS SUBTITLE: AND § 10-704.4 OF THE TAX - GENERAL
ARTICLE.

(B) THE SECRETARY OF THE DEPARTMENT OF BUSINESS AND ECONOMIC
DEVELOPMENT SHALL ADOPT REGULATIONS TO

(2) DEFINE CRITERIA FOR:

(I) (1) A MAJOR BUSINESS FACILITY;

(II) (2) QUALIFYING JOBS FOR A MAJOR BUSINESS FACILITY;
AND

(III) (3) ECONOMICALLY DISTRESSED AREAS.

(C) THE DEPARTMENT OF ASSESSMENTS AND TAXATION SHALL ADOPT
REGULATIONS TO PROVIDE FOR THE COMPUTATION, CARRYOVER, AND
RECAPTURE OF THE CREDIT UNDER §§ 8-214 AND 8-411 OF THE TAX - GENERAL
ARTICLE.

(D) THE MARYLAND INSURANCE COMMISSIONER SHALL ADOPT
REGULATIONS TO PROVIDE FOR THE COMPUTATION, CARRYOVER, AND
RECAPTURE OF THE CREDIT UNDER ARTICLE 48A, § 632 OF THE CODE.

5-1105.

(A)     THE PROVISIONS OF THIS SUBTITLE SHALL APPLY ONLY IN INSTANCES
WHERE AN ANNOUNCEMENT OF INTENT TO ESTABLISH OR EXPAND A MAJOR
BUSINESS FACILITY IS MADE ON OR AFTER JANUARY 1, 1996.

(B)     AN ANNOUNCEMENT OF INTENT TO ESTABLISH OR EXPAND A MAJOR
BUSINESS FACILITY INCLUDES A PRESS CONFERENCE OR EXTENSIVE PRESS
COVERAGE, PROVIDING INFORMATION WITH RESPECT TO THE IMPACT OF THE
PROJECT ON THE ECONOMY OF THE AREA WHERE THE MAJOR BUSINESS FACILITY
IS TO BE ESTABLISHED OR EXPANDED AND THE STATE AS A WHOLE.

5-1106:

(A) SUBJECT TO THE PROVISIONS OF THIS SECTION, THE PROVISIONS OF THIS
SUBTITLE AND THE TAX CREDIT AUTHORIZED UNDER THIS SUBTITLE SHALL
TERMINATE AS OF JANUARY 1, 2001 2002.

(B) (1) THE TAX CREDITS AUTHORIZED UNDER THIS SUBTITLE:

(I) MAY BE CLAIMED ONLY FOR A NEWLY ESTABLISHED OR
EXPANDED FACILITY THAT COMMENCES OPERATIONS BEFORE JANUARY 1, 2000 2001;

AND

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