Ch. 623

1997 LAWS OF MARYLAND

(1994 Replacement Volume and 1996 Supplement)

BY adding to

Article - Insurance

Section 6-115

Annotated Code of Maryland

(1995 Volume and 1996 Supplement)

(As enacted by Chapter 36 of the Acts of the General Assembly of 1995)

BY adding to

Article - Tax - General

Section 8-216, 8-413, and 10-704.7

Annotated Code of Maryland

(1988 Volume and 1996 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - Property

9-229.

(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(2)      "BUSINESS ENTITY" MEANS A PERSON CONDUCTING A TRADE OR
BUSINESS IN THE STATE, THAT IS SUBJECT TO THE STATE INDIVIDUAL OR
CORPORATE INCOME TAX. INSURANCE PREMIUMS TAX. FINANCIAL INSTITUTION
FRANCHISE TAX. OR PUBLIC SERVICE COMPANY FRANCHISE TAX.

(3)      (I) "NEW PERMANENT FULL-TIME POSITION" MEANS A POSITION
THAT IS:

1. A JOB OF AN INDEFINITE DURATION THAT:

A. IS CREATED BY THE COMPANY AS A RESULT OF THE
ESTABLISHMENT OR EXPANSION OF A BUSINESS FACILITY IN THE STATE; AND

B. REQUIRES A MINIMUM OF 35 HOURS OF AN EMPLOYEE'S
TIME PER WEEK FOR AT LEAST 48 WEEKS OF A YEAR; OR

2. A POSITION OF INDEFINITE DURATION THAT REQUIRES A
MINIMUM OF 35 HOURS OF AN EMPLOYEE'S TIME PER WEEK FOR THE PORTION OF
THE TAXABLE YEAR IN WHICH THE EMPLOYEE WAS INITIALLY HIRED FOR, OR
TRANSFERRED TO, THE BUSINESS FACILITY IN THE STATE.

1. A FULL-TIME POSITION OF INDEFINITE DURATION;

2.        LOCATED IN MARYLAND;

3.        NEWLY CREATED, AS A RESULT OF THE ESTABLISHMENT
OR EXPANSION OF A BUSINESS FACILITY IN THE STATE; AND

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