PARRIS N. GLENDENING, Governor                             S.B. 558

11. OPERATION OF ENTERTAINMENT, RECREATION, CULTURAL,
OR TOURISM-RELATED ACTIVITIES IN A MULTIUSE FACILITY LOCATED WITHIN A
REVTTALIZATION AREA IF THE FACILITY GENERATES A MINIMUM OF 1,000 NEW
FULL-TIME EQUIVALENT FILLED POSITIONS IN A 24-MONTH PERIOD AND IS NOT
PRIMARILY USED BY A PROFESSIONAL SPORTS FRANCHISE OR FOR GAMING.

(3) THE TERMS USED IN PARAGRAPH (2)(II) OF THIS SUBSECTION TO REFER
TO VARIOUS TYPES OF BUSINESSES SHALL HAVE THE SAME MEANINGS AS THOSE TERMS
WHICH ARE COMMONLY DEFINED IN THE STANDARD INDUSTRIAL CLASSIFICATION
MANUAL

(C) (1) A QUALIFIED BUSINESS ENTITY MAY CLAIM A TAX CREDIT IN THE
AMOUNT DETERMINED UNDER THIS SECTION.

(2) (I) EXCEPT AS OTHERWISE PROVIDED IN THIS SECTION, THE CREDIT
EARNED UNDER THIS SECTION EQUALS THE LESSER OF:

1.       $1,000 MULTIPLIED TIMES THE NUMBER OF QUALIFIED
EMPLOYEES EMPLOYED BY THE QUALIFIED ENTITY DURING THE CREDIT YEAR; AND

2. 25% OF THE WAGES PAID BY THE QUALIFIED BUSINESS
ENTITY DURING THE CREDIT YEAR TO THE QUALIFIED EMPLOYEES.

(II)    FOR QUALIFIED EMPLOYEES WORKING IN A FACILITY LOCATED
IN A REVTTALIZATION AREA. THE CREDIT EARNED UNDER THIS SECTION EQUALS THE
LESSER OF:

1. $1,500 MULTIPLIED TIMES THE NUMBER OF QUALIFIED
EMPLOYEES EMPLOYED BY THE QUALIFIED ENTITY DURING THE CREDIT YEAR; AND

2.       5% OF THE WAGES PAID BY THE QUALIFIED BUSINESS
ENTITY DURING THE CREDIT YEAR TO THE QUALIFIED EMPLOYEES.

(III)   I FOR EACH FULL-TIME OR PART-TIME EMPLOYEE
EMPLOYED BY A QUALIFIED BUSINESS ENTITY DURING THE CREDIT YEAR IF THE
EMPLOYEE IS A DISABLED INDIVIDUAL WITHIN THE MEANING OF § 21-401 OF THE
EDUCATION ARTICLE THE CREDIT EARNED UNDER THIS SECTION EQUALS THE LESSER
OF $1,500 OR 5% OF THE WAGES PAID TO THE EMPLOYEE, WHETHER OR NOT THE
INDIVIDUAL IS A QUALIFIED EMPLOYEE.

2. EACH EMPLOYEE FOR WHOM THE CREDIT UNDER THIS
SUBPARAGRAPH IS CLAIMED SHALL BE CERTIFIED AS A DISABLED INDIVIDUAL BY THE
DEPARTMENT IN COOPERATION WITH THE APPROPRIATE STATE AGENCIES.

(3) THE CREDIT EARNED UNDER PARAGRAPH (2) OF THIS SUBSECTION
SHALL BE ALLOWED RATABLY, WITH ONE-HALF OF THE CREDIT AMOUNT ALLOWED
ANNUALLY FOR 2 YEARS BEGINNING WITH THE CREDIT YEAR.

(4) THE CREDIT EARNED BY A QUALIFIED BUSINESS ENTITY UNDER THIS
SUBTITLE MAY NOT EXCEED $1,000,000 FOR ANY CREDIT YEAR.

(5) THE SAME CREDIT CANNOT BE APPLIED MORE THAN ONCE AGAINST
DIFFERENT TAXES BY THE SAME TAXPAYER.

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