ROBERT L. EHRLICH, JR., Governor                              Ch. 76

(III) WHETHER THE CREDIT IS ALLOWABLE AS CLAIMED.

(2)      THE AUTHORITY OF THE COMPTROLLER TO EXAMINE AND AUDIT A
TAX RETURN DOES NOT LIMIT THE AUTHORITY OF THE DIRECTOR TO DETERMINE
WHETHER A REHABILITATION QUALIFIES AS A CERTIFIED REHABILITATION OR
WHETHER A CERTIFICATE OF CERTIFIED REHABILITATION HAS BEEN PROPERLY
ISSUED.

(3)      THE COMPTROLLER MAY ADOPT REGULATIONS TO REQUIRE THAT
AN ENTITY OTHER THAN A CORPORATION CLAIM THE TAX CREDIT ON THE TAX
RETURN FILED BY THAT ENTITY.

(4)      (I) EXCEPT AS OTHERWISE PROVIDED IN THIS PARAGRAPH, THE
CREDIT UNDER THIS SECTION MAY BE CLAIMED FOR THE YEAR A CERTIFIED
REHABILITATION IS COMPLETED, ONLY IF THE DIRECTOR HAS, BY THE TIME THE
RETURN IS FILED, ISSUED A CERTIFICATE OF COMPLETION FOR THE CERTIFIED
REHABILITATION.

(II)     A TAXPAYER CLAIMING THE CREDIT MAY AMEND A RETURN
FOR THE YEAR THE CERTIFIED REHABILITATION WAS COMPLETED TO ACCOUNT FOR
A CERTIFICATE ISSUED SUBSEQUENT TO THE FILING OF THE ORIGINAL RETURN.

(III)   AN AMENDED RETURN SHALL BE FILED WITHIN THE PERIOD
ALLOWED UNDER THE TAX - GENERAL ARTICLE FOR FILING REFUND CLAIMS.

(IV)    THE PROVISIONS OF THIS PARAGRAPH DO NOT EXTEND THE
PERIOD IN WHICH A CERTIFIED REHABILITATION MUST BE COMPLETED TO BE
ELIGIBLE FOR A TAX CREDIT UNDER THIS SECTION.

(V)     AN AMENDED RETURN MAY ACCOUNT FOR AN AMENDED
CERTIFICATION ISSUED BY THE DIRECTOR FOR A CERTIFIED REHABILITATION.

(G) A REFUND PAYABLE UNDER SUBSECTION (C) 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 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.

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