|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor
|
|
|
|
|
|
Ch. 385
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHAPTER 385
(House Bill 762)
AN ACT concerning
One Maryland Economic Development Tax Credits - Refunds - Businesses
Creating Higher Wage Jobs
FOR the purpose of altering provisions of certain economic development tax credits to
alter the circumstances under which a qualified business entity may claim
certain refunds and apply the credits in a certain manner, if the average pay for
the majority of certain qualified positions created is at least a certain percentage
of the federal minimum wage; providing for the application of this Act; and
generally relating to certain tax credits allowed for certain costs of certain
economic development projects and certain start-up costs.
BY repealing and reenacting, without amendments,
Article 83A — Department of Business and Economic Development
Section 5-1501(a)(7) and (10)
Annotated Code of Maryland
(1998 Replacement Volume and 2001 Supplement)
BY repealing and reenacting, with amendments,
Article 83A - Department of Business and Economic Development
Section 5-1501(b)(5) and (c)(4)
Annotated Code of Maryland
(1998 Replacement Volume and 20.01 Supplement)
BY adding to
Article 83A— Department of Business and Economic Development
Section 5-1501(h)
Annotated Code of Maryland
(1998 Replacement Volume and 2001 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article 83A - Department of Business and Economic Development
5-1501.
(a) (7) "Qualified business entity" means a person that:
(i) Conducts or operates a trade or business in Maryland or is an
organization operating in Maryland that is exempt from taxation under § 501(c)(3) or
(4) of the Internal Revenue Code;
|
|
|
|
|
|
|
|
|
(ii) Establishes or expands a business facility that:
|
|
|
|
|
|
|
|
|
|
- 3023 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
