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PARRIS N. GLENDENING, Governor
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H.B. 147
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(2) (3) (2) If a business entity meets the requirements of paragraph
(1) of this subsection and subsection (b) of this section and of applicable local law
adopted under subsection (b)(1) of this section, the county or municipal corporation
shall compute the amount of the property tax credit granted under this subsection for
new or expanded premises and the personal property located on those premises that
may be claimed against the county or municipal corporation property taxes that
would otherwise be due to equal a percentage of the amount of property tax imposed
on the assessment of the new or expanded premises, as follows:
(i) 52% for the 1st and 2nd taxable years;
(ii) 39% in the 3rd and 4th taxable years;
(iii) 26% in the 5th and 6th taxable years; and
(iv) 0% for each taxable year thereafter.
(3) (4) (3) On receipt of notification under subsection (b)(7) of this
section that a business entity has been certified for a property tax credit under this
subsection AND FOR THE STATE TAX CREDITS UNDER PARAGRAPH (2) OF THIS
SUBSECTION, the Department shall compute and certify to the Comptroller or, in the
case of the insurance premiums tax, the Maryland Insurance Commissioner the
amount of the State tax credit authorized under this subsection that may be claimed
against the individual or corporate income tax, insurance premiums tax, or financial
institution franchise tax that would otherwise be due to equal a percentage of the
amount of property tax imposed on the assessment of the new or expanded premises,
as follows:
(i) 28% in the 1st and 2nd taxable years;
(ii) 21% in the 3rd and 4th taxable years;
(iii) 14% in the 5th and 6th taxable years; and
(iv) 0% for each taxable year thereafter.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2000.
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May 18, 2000
The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed House Bill 147 - Kent County - Sheriffs Salary.
This bill increases the annual salary of the Sheriff of Kent County from $40,000 to
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- 4299 -
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