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Ch. 185
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2000 LAWS OF MARYLAND
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TAXABLE 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.
10-307.
(g) The subtraction under subsection (a) of this section includes the amounts
allowed to be subtracted for an individual under:
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(1) § 10-207(i) of this title (Profits on sale or exchange of State or local
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bonds);
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(2) 10-207(k) of this title (Relocation and assistance payments);
(3) § 10-207(m) of this title (State or local income tax refunds); for]
(4) § 10-207(c-1) of this title (State tax exempt interest from mutual
funds); OR
(5) § 10-207(U) OF THIS TITLE (AMOUNTS RECEIVED BY STADIUM
AUTHORITY AFFILIATE IN CONSIDERATION OF TRANSFER OF CERTIFIED
REHABILITATION CREDIT).
10-704.6.
(A) An individual or corporation may claim a credit against the State income
tax for a certified rehabilitation as provided under Article 83B, § 5-801 of the Code.
(B) IN THE CASE OF ANY CREDIT UNDER SUBSECTION (A) OF THIS SECTION
THAT IS EARNED BY THE MARYLAND STADIUM AUTHORITY OR ANY AUTHORITY
AFFILIATE (WITHIN THE MEANING OF § 13-701(T) OF THE FINANCIAL INSTITUTIONS
ARTICLE), THE FULL AMOUNT OF SUCH CREDIT THAT IS TRANSFERRED TO ANY
INDIVIDUAL, CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY, OR
OTHER ENTITY (A "TRANSFEREE") UNDER § 10-708(A)(18) OF THE FINANCIAL
INSTITUTIONS ARTICLE SHALL BE ALLOWED AS A CREDIT AGAINST THE INCOME TAX
IMPOSED ON THE TRANSFEREE OR, IN THE CASE OF A TRANSFEREE TREATED AS A
PARTNERSHIP FOR INCOME TAX PURPOSES, AGAINST THE INCOME TAX IMPOSED
UPON THE DIRECT OR INDIRECT PARTNERS, MEMBERS, OR OTHER EQUITY OWNERS
OF THE TRANSFEREE IN PROPORTION TO THEIR RESPECTIVE INTERESTS IN THE
TRANSFEREE.
Article - Tax - Property
12-108.
(AA) AN INSTRUMENT OF WRITING PURSUANT TO WHICH THE MARYLAND
STADIUM AUTHORITY TRANSFERS TITLE TO, OR CREATES A LEASEHOLD INTEREST
IN, REAL PROPERTY IF THE TRANSFEREE OR LESSEE IS AN AUTHORITY AFFILIATE
WITHIN THE MEANING OF AS DEFINED IN § 13-701(T) OF THE FINANCIAL
INSTITUTIONS ARTICLE.
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- 922 -
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