S.B. 558

VETOES

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

(II) MAY NOT BE EARNED FOR ANY CREDIT YEAR BEGINNING ON OR
AFTER JANUARY 1, 2002.

(2) SUBJECT TO THE LIMITATIONS UNDER THIS SUBTITLE FOR TAXABLE
YEARS BEGINNING ON OR AFTER JANUARY 1, 2002 TAX CREDITS EARNED IN CREDIT
YEARS BEGINNING BEFORE JANUARY 1, 2002 MAY BE ALLOWED RATABLY OVER A 2-YEAR
PERIOD, MAY BE CARRIED FORWARD, AND ARE SUBJECT TO RECAPTURE AS PROVIDED IN
§ 5-1102 OF THIS SUBTITLE.

Article 48A - Insurance Code

632.

(E) AN INSURER MAY CLAIM A CREDIT AGAINST THE PREMIUM TAX FOR WAGES
PAID TO QUALIFIED EMPLOYEES AS PROVIDED UNDER ARTICLE 834, § 5-1102 OF THE
CODE.

Article - Tax - General
8-214.

A FINANCIAL INSTITUTION MAY CLAIM A CREDIT AGAINST THE FINANCIAL
INSTITUTION FRANCHISE TAX FOR WAGES PAID TO QUALIFIED EMPLOYEES AS
PROVIDED UNDER ARTICLE 83A, § 5-1102 OF THE CODE.

8-411.

A PUBLIC SERVICE COMPANY MAY CLAIM A CREDIT AGAINST THE PUBLIC SERVICE
COMPANY FRANCHISE TAX FOR WAGES PAID TO QUALIFIED EMPLOYEES AS PROVIDED
UNDER ARTICLE 834, § 5-1102 OF THE CODE.

10-704.4.

AN INDIVIDUAL OR A CORPORATION MAY CLAIM A CREDIT AGAINST THE INCOME
TAX FOR WAGES PAID TO QUALIFIED EMPLOYEES AS PROVIDED UNDER ARTICLE 834, §
5-1102 OF THE CODE

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read as
follows:

Article 83A - Department of Business and Economic Development

5-1102.

(g) (4) The Maryland Insurance Commissioner shall adopt regulations to provide
for the computation, carryover, and recapture of the credit under [Article 48A, § 632(e) of the
Code] § 6-114 OF THE INSURANCE ARTICLE.

Article — Insurance

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