|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Martin O'Malley, Governor
|
|
|
|
|
|
Ch. 566
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REHABILITATION STANDARDS OF THE UNITED STATES SECRETARY OF THE
INTERIOR; AND
[(iii)] (IV) for commercial rehabilitations WITH PROPOSED
EXPENDITURES OF GREATER THAN $500,000, establish a competitive award
process for the award of initial credit certificates for Maryland heritage structure
rehabilitation tax credits that:
1. [ensures tax credits are awarded in a manner that
reflects the geographic diversity of the State] FAVORS THE AWARD OF TAX CREDITS
FOR REHABILITATION PROJECTS LOCATED IN JURISDICTIONS THAT HAVE BEEN
HISTORICALLY UNDERREPRESENTED IN THE AWARD OF TAX CREDITS FOR
COMMERCIAL REHABILITATIONS, BASED ON THE NUMBER OF NATIONAL
REGISTER NATIONAL REGISTER STRUCTURES IN EACH JURISDICTION;
2. favors the award of tax credits for rehabilitation
projects that are consistent with and promote current growth and development policies
and programs of the State; and
3. [A. favors the award of tax credits for structures
that are listed in the National Register of Historic Places or are designated as historic
properties under local law and determined by the Director to be eligible for listing in
the National Register of Historic Places; or
B. favors the award of tax credits for structures that are
contributing buildings with historic significance and are located in historic districts
listed in the National Register of Historic Places] ENSURES THAT INITIAL CREDIT
CERTIFICATES ARE AWARDED FOR REHABILITATIONS FOR WHICH
APPLICATIONS FOR APPROVAL FOR PLANS FOR PROPOSED REHABILITATION:
A. ARE RECEIVED AND RATED PRIOR TO THE DATE
APPLICATIONS FOR APPROVAL OF PLANS FOR PROPOSED COMMERCIAL
REHABILITATION ARE COMPETITIVELY RANKED; AND
B. UNDER CRITERIA ESTABLISHED FOR RATING
COMMERCIAL REHABILITATIONS, ARE RATED AT LEAST AS HIGH AS
COMMERCIAL REHABILITATIONS FOR WHICH INITIAL CREDIT CERTIFICATES
HISTORICALLY HAVE BEEN AWARDED.
(2) The Director may not certify that a rehabilitation is a certified
rehabilitation eligible for a tax credit provided under this section unless the individual
or business entity seeking certification states under oath the amount of the
individual's or business entity's qualified rehabilitation expenditures.
|
|
|
|
|
|
|
|
|
|
- 3677 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
