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2007 Laws of Maryland
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Ch. 143
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the credit is allowed, not including any employee filling a job
created when a job function is shifted from an existing location in
the State to the location of the new construction or improvement;
and
3. makes a substantial investment in Garrett
county, WHICH MAY BE:
A. THE ACQUISITION OF A BUILDING, LAND, OR
EQUIPMENT THAT TOTALS AT LEAST $2,000,000; OR
equipment that totals at least $2,000,000; or
B. the creation of 10 positions with salaries
greater than the current average annual wage in Garrett County.
(ii) IN ESTABLISHING A TAX CREDIT UNDER THIS
paragraph, the the governing body of Garrett County, by law, may:
1. shall develop criteria necessary to
implement the credit;
1. specify the minimum investment or job
creation requirements for qualification for the credit:
2. SHALL designate an agency to administer
the credit; and
3. MAY specify:
A. THE AMOUNT AND DURATION OF THE CREDIT;
b. THE QUALIFICATIONS AND application
procedures for the credit; and
c. any additional criteria for eligibility or
any other requirement or procedure for the granting or
administration of the credit that the governing body considers
appropriate.
(III) a property tax credit under this paragraph may
not exceed the amount of county property tax imposed on the
increase in assessment that is due to the new construction or
improvements made to the property of the person applying for the
credit.
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