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PARRIS N. GLENDENING, Governor
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Ch. 448
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employment with the employer to take another job, the business entity may claim a
tax credit of [20%] 30% of up to the first $6,000 of the wages paid to the employee
during the course of employment.
(ii) If a business entity is entitled to a tax credit for an employee
who is employed for less than 1 year for a reason other than that described in
subparagraph (i) of this paragraph, the amount of the credit shall be reduced by the
proportion of a year that the employee did not work.
(f) If the credit allowed under this section in any taxable year exceeds the
total tax otherwise payable by the business entity for that taxable year, a business
entity may apply the excess as a credit for succeeding taxable years until the earlier
of:
(1) The full amount of the excess is used; or
(2) The expiration of the 5th taxable year after the taxable year in which
the wages or qualified child care or transportation expenses for which the credit is
claimed are paid.
(g) If a credit is claimed under this section, the claimant must make the
addition required in § 10-205 or § 10-306 of the Tax — General Article.
(h) (1) Subject to the provisions of this subsection, the DEPARTMENT OF
LABOR, LICENSING, AND REGULATION, IN CONSULTATION WITH AND THE State
Department of Education shall JOINTLY adopt regulations necessary to carry out the
provisions of this section.
(2) The Comptroller shall adopt regulations to provide for the
computation and carryover of the credit under § 10-704.7 of the Tax - General Article.
(3) The Department of Assessments and Taxation shall adopt
regulations to provide for the computation and carryover of the credit under §§ 8-216
and 8-413 of the Tax - General Article.
(4) The Maryland Insurance Commissioner shall adopt regulations to
provide for the computation and carryover of the credit under § 6-115 of the
Insurance Article.
(i) The [State Department of Education] DEPARTMENT OF LABOR,
LICENSING, AND REGULATION shall ADMINISTER THE TAX CREDIT AND report to the
Governor, and, subject to § 2-1246 of the State Government Article, to the General
Assembly, before January 15 of each year on:
(1) Marketing activities for the credit under this section;
(2) The number of business entities who hired a qualified employee with
a disability during the preceding year;
(3) The number of qualified employees with disabilities:
(i) Hired in each business sector for the preceding year; and
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- 2455 -
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