SB. 558                                                  VETOES

5-1102.

(A) IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT THE JOB CREATION TAX
CREDITS AUTHORIZED UNDER THIS SUBTITLE ARE FOR THE PURPOSE OF INCREASING
THE NUMBER OF NEW JOBS IN THE STATE BY ENCOURAGING THE EXPANSION OF
EXISTING PRIVATE SECTOR ENTERPRISES AND THE ESTABLISHMENT OR ATTRACTION OF
NEW PRIVATE SECTOR ENTERPRISES.

(B) (1) (I) THE SECRETARY SHALL CERTIFY A PERSON AS A QUALIFIED
BUSINESS ENTITY ELIGIBLE FOR THE TAX CREDIT UNDER THIS SUBTITLE IF THE PERSON
SATISFIES THE CRITERIA SET FORTH IN THIS SECTION.

(II) A BUSINESS ENTITY MAY NOT BE CERTIFIED AS QUALIFYING FOR
THE TAX CREDIT UNDER THIS SUBTITLE UNLESS THE BUSINESS ENTITY NOTIFIES THE
DEPARTMENT OF ITS INTENT TO SEEK CERTIFICATION BEFORE ESTABLISHING OR
EXPANDING THE BUSINESS FACILITY ON WHICH THE CREDIT IS BASED.

(2) TO QUALIFY FOR THE TAX CREDIT PROVIDED UNDER THIS SUBTITLE A
BUSINESS ENTITY MUST ESTABLISH OR EXPAND A BUSINESS FACILITY IN THE STATE
THAT:

(I) RESULTS IN THE CREATION OF:

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

(II) IS ENGAGED IN:

1. MANUFACTURING OR MINING:

2.       TRANSPORTATION OR COMMUNICATIONS;
3. AGRICULTURE, FORESTRY, OR FISHING;
4. RESEARCH, DEVELOPMENT, OR TESTING;

5.       BIOTECHNOLOGY;

6. COMPUTER PROGRAMMING DATA PROCESSING, OR OTHER
COMPUTER RELATED SERVICES:

7. CENTRAL FINANCIAL, REAL ESTATE, OR INSURANCE
SERVICES;

8.       THE OPERATION OF CENTRAL ADMINISTRATIVE OFFICES OR
A COMPANY HEADQUARTERS:

9. A PUBLIC UTILITY;                                      .        ,

10. WAREHOUSING; OR

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