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Martin O'Malley, Governor Ch. 565
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(6) any other pertinent issues related to the application process.
The first study shall be submitted, subject to § 2-1246 of the State Government
Article, to the Senate Budget and Taxation Committee and the House Committee on
Ways and Means on or before January 1. 2009. so that the committees may review the
report during the 2009 legislative session. The second study shall be submitted,
subject to § 2-1246 of the State Government Article, to the Senate Budget and
Taxation Committee and the House Committee on Ways and Means on or before
January 1, 2010, so that the committees may review the report during the 2010
legislative session.
SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2007.
Approved by the Governor, May 17, 2007.
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CHAPTER 566
(Senate Bill 613)
AN ACT concerning
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Maryland Heritage Structure Rehabilitation Tax Credit Program
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FOR the purpose of requiring the Director of the Maryland Historical Trust to adopt
certain regulations to establish certain criteria for plans of proposed
rehabilitation for purposes of the Maryland heritage structure rehabilitation tax
credits; exempting certain commercial rehabilitations from a certain
competitive award process; repealing altering a certain limit on the award of
initial credit certificates for projects in a single jurisdiction; altering certain
preferences for the award of initial credit certificates to certain commercial
rehabilitations; altering a certain limit on the amount of initial credit
certificates that may be issued within a fiscal year; repealing a requirement
that a certain percentage of tax credits be provided for certain nonprofit
organizations; altering certain provisions relating to certain authority of the
Director to charge certain fees to certify heritage structures and rehabilitations;
providing that certain related structures may qualify separately for tax credits
under certain conditions; altering a certain time period for completing
commercial rehabilitations for purposes of the credit; exempting certain
commercial rehabilitations from a certain limit on the aggregate credit amounts
for which the Director may issue initial credit amounts for any fiscal year;
extending to certain fiscal years a requirement that the Governor include in the
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- 3673 -
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