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Martin O'Malley, Governor
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Ch. 370
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(F) IF THE CREDIT ALLOWED UNDER THIS SECTION IN ANY TAXABLE
YEAR EXCEEDS THE TOTAL TAX OTHERWISE PAYABLE BY THE BUSINESS ENTITY
FOR THAT TAXABLE YEAR, A BUSINESS ENTITY MAY APPLY THE EXCESS AS A
CREDIT FOR SUCCEEDING TAXABLE YEARS UNTIL THE EARLIER OF:
(1) THE FULL AMOUNT OF THE EXCESS IS USED; OR
(2) THE EXPIRATION OF THE FIFTH TAXABLE YEAR AFTER THE
TAXABLE YEAR IN WHICH THE WAGES OR QUALIFIED CHILD CARE OR
TRANSPORTATION EXPENSES FOR WHICH THE CREDIT IS CLAIMED ARE PAID.
(G) IF A CREDIT IS CLAIMED UNDER THIS SECTION, THE CLAIMANT
MUST MAKE THE ADDITION REQUIRED IN § 10-205 OR § 10-306 OF THIS
ARTICLE.
(H) THE COMPTROLLER IN COOPERATION WITH THE DEPARTMENT OF
LABOR, LICENSING, AND REGULATION AND THE DEPARTMENT OF HUMAN
RESOURCES SHALL ADMINISTER THE CREDIT UNDER THIS SECTION.
(I) THE DEPARTMENT OF LABOR, LICENSING, AND REGULATION, THE
DEPARTMENT OF HUMAN RESOURCES, AND THE COMPTROLLER SHALL
REPORT TO THE GOVERNOR AND, SUBJECT TO § 2-1246 OF THE STATE
GOVERNMENT ARTICLE, TO THE GENERAL ASSEMBLY BEFORE JANUARY 15 OF
EACH YEAR ON:
(1) MARKETING ACTIVITIES;
(2) THE COORDINATION OF INTERAGENCY ACTIVITIES;
(3) THE NUMBER OF BUSINESS ENTITIES WHO HIRED
EMPLOYMENT OPPORTUNITY EMPLOYEES DURING THE PRECEDING YEAR,
INCLUDING A SEPARATE ACCOUNT OF THE NUMBER OF ORGANIZATIONS THAT
ARE EXCEPT FROM TAXATION UNDER § 501(C)(3) OR (4) OF THE INTERNAL
REVENUE CODE;
(4) THE NUMBER OF EMPLOYMENT OPPORTUNITY EMPLOYEES:
(I) HIRED IN EACH BUSINESS SECTOR FOR THE PRECEDING
YEAR; AND
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(II) HIRED DURING THE PRECEDING YEAR AND EMPLOYED
FOR LESS THAN 1 YEAR;
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- 2327 -
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