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Ch. 501
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PARRIS N. GLENDENING, Governor
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CHAPTER 501
(Senate Bill 86)
AN ACT concerning
Kent County Tax Credits - New or Expanded Business Premises
FOR the purpose of altering certain qualifications for certain tax credits in Kent
County certain counties by specifying the number of individuals employed by
certain businesses in certain new permanent full-time positions; and generally
relating to a certain tax credit for certain new or expanded business premises in
Kent County certain counties.
BY repealing and reenacting, without amendments,
Article - Tax - Property
Section 9-230(b)
Annotated Code of Maryland
(1994 Replacement Volume and 1999 Supplement)
BY repealing and reenacting, with amendments,
Article — Tax - Property
Section 9-230(c)
Annotated Code of Maryland
(1994 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Tax - Property
9-230.
(b) (1) The Mayor and City Council of Baltimore City or the governing body
of a county or of a municipal corporation may enact legislation necessary to grant
either property tax credits, enhanced property tax credits, or both types of property
tax credits against the county or municipal corporation property tax imposed on real
property owned or leased by business entities that meet the requirements specified
for the applicable tax credit under this section and on personal property owned by
business entities that meet the requirements specified under this section.
(2) (i) If a property tax credit is granted under paragraph (1) of this
subsection, a business entity that meets the requirements for the property tax credit
under this section and obtains certification from the county or municipal corporation
may claim a State tax credit against the individual or corporate income tax, insurance
premiums tax, or financial institution franchise tax as provided under subsection
(c)(3) of this section.
(ii) If an enhanced property tax credit is granted under this section
and a business entity and its affiliates meet the requirements for the enhanced
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- 2671 -
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