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PARRIS N. GLENDENING, Governor Ch. 185
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Article 83B - Department of Housing and Community Development
5-801.
(H) (1) IN THIS SUBSECTION, "AUTHORITY AFFILIATE" HAS THE MEANING
STATED IN § 13-701(T) OF THE FINANCIAL INSTITUTIONS ARTICLE.
(2) AS AUTHORIZED UNDER 13-708 OF THE FINANCIAL INSTITUTIONS
ARTICLE, THE MARYLAND STADIUM AUTHORITY OR AN AUTHORITY AFFILIATE MAY
TRANSFER TO ANY BUSINESS ENTITY OR INDIVIDUAL ANY CREDIT UNDER THIS
SECTION FOR QUALIFIED REHABILITATION EXPENDITURES OF THE MARYLAND
STADIUM AUTHORITY OR AN AUTHORITY AFFILIATE.
(3) A BUSINESS ENTITY OR INDIVIDUAL TO WHOM ANY CREDIT IS
TRANSFERRED BY THE MARYLAND STADIUM AUTHORITY OR AN AUTHORITY
AFFILIATE UNDER THIS SUBSECTION MAY CLAIM A TAX CREDIT UNDER THIS
SECTION IN THE FULL AMOUNT OF THE CREDIT TRANSFERRED.
Article - Tax - General
10-208. 10-207.
(O) (U) THE SUBTRACTION UNDER SUBSECTION (A) OF THIS SECTION
INCLUDES ANY AMOUNT RECEIVED BY ANY AUTHORITY AFFILIATE (WITHIN THE
MEANING OF, AS DEFINED IN § 13-701(T) OF THE FINANCIAL INSTITUTIONS ARTICLE)
ARTICLE IN CONSIDERATION OF THE TRANSFER OF THE CREDIT ALLOWED UNDER §
10-704.5(A) OF THIS TITLE IF, AND TO THE EXTENT THAT, SUCH AMOUNT IS
INCLUDED IN CROSS INCOME. IN THE CASE WHERE THE AUTHORITY AFFILIATE IS
AN ENTITY TREATED AS A PARTNERSHIP FOR INCOME TAX PURPOSES, THE
SUBTRACTION SHALL BE A SUBTRACTION FROM THE FEDERAL ADJUSTED GROSS
INCOME OF THE DIRECT OR INDIRECT PARTNERS, MEMBERS, OR OTHER EQUITY
OWNERS OF THE AUTHORITY AFFILIATE IN PROPORTION TO THEIR RESPECTIVE
INTERESTS IN THE AUTHORITY AFFILIATE UNDER ARTICLE 83B, 5-801(H) OF THE
CODE.
10-308.
(b) The subtraction under subsection (a) of this section includes the amounts
allowed to be subtracted for an individual under:
(1) § 10-208(d) of this title (Conservation-tillage equipment expenses);
(2) § 10-208(i) of this title (Reforestation or timber stand expenses);
(3) § 10-208(k) of this title (Wage expenses for targeted jobs); [and]
(4) § 10-208(m) of this title (Poultry or livestock manure spreading
equipment) [. ] AND
(5) § 10-208(O) OF THIS TITLE (CERTAIN AMOUNTS RECEIVED BY
MARYLAND STADIUM AUTHORITY AFFILIATES). IN THE CASE WHERE THE
AUTHORITY AFFILIATE IS AN ENTITY TREATED AS A PARTNERSHIP FOR INCOME TAX
PURPOSES, THE SUBTRACTION SHALL BE A SUBTRACTION FROM THE FEDERAL
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- 921 -
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