|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 541
|
|
2002 LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(h) (F) A refund payable under [subsection (c)] SUBSECTION (C)(3) of this
section [:
(1) Operates to reduce the income tax revenue from corporations if the
person entitled to the refund is a corporation subject to the income tax under Title 10
of the Tax - General Article;
(2) Operates to reduce insurance premium tax revenues if the person
entitled to the refund is subject to taxation under Title 6 of the Insurance Article; and
(3) Operates] OPERATES to reduce the income tax revenue from
individuals [if the person entitled to the refund is:
(i) An individual subject to the income tax under Title 10 of the Tax
- General Article; or
(ii) An organization exempt from taxation under § 501(c)(3) of the
Internal Revenue Code].
(i) (G) (1) On or before January 15, APRIL 15, JULY 15, AND OCTOBER 15 of
each year, the Director shall report to the Governor and, subject to § 2-1246 of the
State Government Article, to the General Assembly, on the credit allowed under this
section.
(2) The report required under paragraph (1) of this subsection shall
include FOR THE PRECEDING CALENDAR YEAR, QUARTER, FOR EACH COMMERCIAL
REHABILITATION THAT WAS COMPLETED DURING THE CALENDAR QUARTER AND
FOR EACH PROPOSED COMMERCIAL REHABILITATION THAT REMAINS INCOMPLETE
AS OF THE END OF THE CALENDAR QUARTER:
(I) THE NAME OF THE OWNER OR DEVELOPER THAT HAS APPLIED
FOR APPROVAL OF THE TAX CREDIT;
(II) THE NAME AND ADDRESS OF THE PROPOSED OR CERTIFIED
REHABILITATION AND THE COUNTY WHERE THE PROJECT IS LOCATED;
(III) THE DATES OF RECEIPT AND APPROVAL BY THE TRUST OF ALL
APPLICATIONS REGARDING THE PROJECT, INCLUDING APPLICATIONS FOR
CERTIFICATION THAT A STRUCTURE OR PROPERTY WILL QUALIFY AS A CERTIFIED
HERITAGE STRUCTURE. FOR APPROVAL OF THE PROPOSED REHABILITATION. AND
FOR CERTIFICATION OF THE COMPLETED REHABILITATION; AND
(IV) THE AMOUNT OF PROPOSED ESTIMATED REHABILITATION
EXPENDITURES FOR WHICH THE APPLICANT SOUGHT APPROVAL FOR PURPOSES OF
THE CREDIT AND THE MAXIMUM CREDIT APPROVED FOR THE PROJECT STATED IN
THE APPLICATION FOR APPROVAL OF THE PLAN OF PROPOSED REHABILITATION,
AND
|
|
|
|
|
|
|
|
|
|
(V) FOR PROJECTS COMPLETED DURING THE CALENDAR QUARTER.
THE FINAL QUALIFIED REHABILITATION COSTS FOR THE PROJECT AND THE
AMOUNT OF THE CREDIT FOR THE CERTIFIED REHABILITATION.
|
|
|
|
|
|
|
|
|
|
- 4120 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
