ROBERT L. EHRLICH, JR., Governor                            Ch. 160

(i) May be claimed only for qualified positions at a newly
established or expanded facility that commences operations before January 1, [2006]
2009; and

(ii) May not be earned for any credit year beginning on or after
January 1, [2007] 2010.

(2) Subject to the limitations under this subtitle, for taxable years
beginning on or after January 1, [2007] 2010, tax credits earned in credit years
beginning before January 1, [2007] 2010, may be allowed ratably over a 2-year
period, may be carried forward, and are subject to recapture as provided in § 5-1102
of this subtitle.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2004.

Approved April 27, 2004.

CHAPTER 160
(House Bill 224)

AN ACT concerning

Baltimore City - U.S.S. Constellation Museum Loan of 2000

FOR the purpose of changing the name of the loan from the U.S.S. Constellation Loan
of 2000 to the U.S.S. Constellation Museum Loan of 2000, and changing the
name of the grantee from the Constellation Foundation, Inc. to the Constellation
Museum, Inc.; making this Act an emergency measure; and generally relating to
the Baltimore City - U.S.S. Constellation Museum Loan of 2000.

BY repealing and reenacting, with amendments,

Chapter 246 of the Acts of the General Assembly of 2000
Section 1(1) and (3)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Chapter 246 of the Acts of 2000

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1) The Board of Public Works may borrow money and incur indebtedness on
behalf of the State of Maryland through a State loan to be known as the Baltimore
City - U.S.S. Constellation MUSEUM Loan of 2000 in a total principal amount equal
to the lesser of (i) $475,000 or (ii) the amount of the matching fund provided in
accordance with Section 1(5) below. This loan shall be evidenced by the issuance, sale,
and delivery of State general obligation bonds authorized by a resolution of the Board

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