S.B. 558                                                  VETOES

PROCESSING, PURCHASING, TRANSPORTATION OR SHIPPING, ADVERTISING, LEGAL
FINANCIAL, AND RESEARCH AND DEVELOPMENT

(C)    (1) "COMPANY HEADQUARTERS" MEANS A FACILITY WHERE THE MAJORITY
OF A BUSINESS ENTITY'S FINANCIAL PERSONNEL LEGAL AND PLANNING FUNCTIONS
ARE HANDLED EITHER ON A REGIONAL OR NATIONAL BASIS.

(2) "COMPANY HEADQUARTERS" DOES NOT INCLUDE THE HEADQUARTERS
OF A PROFESSIONAL SPORTS ORGANIZATION.

(D)     "CREDIT YEAR" MEANS THE TAXABLE YEAR IN WHICH A QUALIFIED BUSINESS
ENTITY CLAIMS THE CREDIT ALLOWED UNDER THIS SUBTITLE

(E)     "FULL-TIME POSITION'' MEANS A POSITION REQUIRING AT LEAST 840 HOURS
OF AN EMPLOYEE'S TIME DURING AT LEAST 24 WEEKS IN A 6-MONTH PERIOD.

(F) (1) "QUALIFIED BUSINESS ENTITY" MEANS A PERSON CONDUCTING OR
OPERATING A TRADE OR BUSINESS IN MARYLAND WHO:

(I) IS ENGAGED IN AN ACTIVITY SPECIFIED IN § 5-1102(B)(2)(II) OF
THIS SUBTITLE;

(II)    DURING ANY 24-MONTH PERIOD CREATES:

1. AT LEAST 60 QUALIFIED POSITIONS; OR

2. AT LEAST 30 QUALIFIED POSITIONS IF THE AGGREGATE
PAYROLL FOR THE QUALIFIED POSITIONS IS GREATER THAN A THRESHOLD AMOUNT
EQUAL TO THE PRODUCT OF MULTIPLYING 60 TIMES THE STATE'S AVERAGE ANNUAL
SALARY, AS DETERMINED BY THE DEPARTMENT; AND

(III)   IS CERTIFIED BY THE SECRETARY UNDER § 5-1102(B) OF THIS
SUBTITLE AS QUALIFYING FOR THE TAX CREDIT UNDER THIS SUBTITLE.

(2) FOR A PERSON ENGAGED IN A BUSINESS ACTIVITY DESCRIBED IN §
5-1102(B)(2)(II)11 OF THIS SUBTITLE "QUALIFIED BUSINESS ENTITY":

(I) INCLUDES THE PERSONS OWNING OR OPERATING THE MULTIUSE
FACILITY IN WHICH THE ENTERTAINMENT, RECREATION, CULTURAL OR
TOURISM-RELATED ACTIVITIES ARE OPERATED; AND

(II) DOES NOT INCLUDE ANY SEPARATE ENTITY THAT LEASES RETAIL
SPACE AT THE FACILITY.

(G) "QUALIFIED EMPLOYEE" MEANS AN EMPLOYEE FILLING A QUALIFIED
POSITION.

(H) (1) "QUALIFIED POSITION" MEANS A POSITION THAT:

(I) IS A FULL-TIME POSITION AND IS OF INDEFINITE DURATION;

(II)    PAYS AT LEAST 150% OF THE FEDERAL MINIMUM WAGE;

(III)   IS LOCATED IN MARYLAND;

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