PARRIS N. GLENDENING, Governor                                 Ch. 624

(H) (1) QUARTERLY OR MORE FREQUENTLY, THE COUNTY OR MUNICIPAL
CORPORATION SHALL SUBMIT A REQUEST TO THE DEPARTMENT OF ASSESSMENTS
AND TAXATION FOR THE AMOUNT REQUIRED BY SUBSECTION (G) OF THIS SECTION.

(2) WITHIN 5 WORKING DAYS AFTER THE DEPARTMENT OF
ASSESSMENTS AND TAXATION RECEIVES THE REQUEST FROM THE COUNTY OR
MUNICIPAL CORPORATION, THE DEPARTMENT SHALL CERTIFY TO THE
COMPTROLLER THE REIMBURSEMENT DUE TO EACH COUNTY OR MUNICIPAL
CORPORATION.

(3) WITHIN 5 WORKING DAYS AFTER THE COMPTROLLER RECEIVES
THE CERTIFICATION FROM THE DEPARTMENT, THE COMPTROLLER SHALL
REIMBURSE EACH COUNTY OR MUNICIPAL CORPORATION.

Article - Insurance
6-115.

AN INSURER MAY CLAIM A STATE TAX CREDIT AGAINST THE PREMIUM TAX
PAYABLE UNDER THIS SUBTITLE FOR NEW OR EXPANDED BUSINESS PREMISES AS
PROVIDED UNDER § 9-229(F)(1) OF THE TAX - PROPERTY ARTICLE

Article — Tax — General

8-216.

A FINANCIAL INSTITUTION MAY CLAIM A STATE TAX CREDIT AGAINST THE
FINANCIAL INSTITUTION FRANCHISE TAX PAYABLE UNDER THIS SUBTITLE FOR NEW OR
EXPANDED BUSINESS PREMISES AS PROVIDED UNDER § 9-229(F)(1) OF THE TAX -
PROPERTY ARTICLE.

8-413.

A PUBLIC SERVICE COMPANY MAY CLAIM A STATE TAX CREDIT AGAINST THE
PUBLIC SERVICE COMPANY FRANCHISE TAX PAYABLE UNDER THIS SUBTITLE FOR NEW
OR EXPANDED BUSINESS PREMISES AS PROVIDED UNDER § 9-229(F)(1) OF THE TAX -
PROPERTY ARTICLE.

10-704.7.

AN INDIVIDUAL OR A CORPORATION MAY CLAIM A STATE TAX CREDIT AGAINST
THE INCOME TAX FOR NEW OR EXPANDED BUSINESS PREMISES AS PROVIDED UNDER §
9-229(F)(1) OF THE TAX-PROPERTY ARTICLE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July l, 1997. be applicable to all taxable years beginning after December 31, 1996 but before
January 1, 2006; provided, however, that the tax credits under § 9-229 of the Tax - Property
Article as enacted by Section 1 of this Act, shall be allowed for property and business entities
that meet the criteria established in § 9-229(c) of the Tax - Property Article on or after
October 1, 1997 but before January 1, 2001; and provided further that any excess State tax
credits under § 9-229(f)(1) of the Tax - Property Article may be carried forward and, subject
to the limitations under § 9-229(f)(3) of the Tax-Property Article, may be applied as a credit
for taxable years beginning on or after January 1, 2003.

- 3493 -