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(a)(1) To the extent provided for in this section, a business entity that locates in a RISE zone is entitled to:
(i) the property tax credit under § 9-103.1 of the Tax--Property Article;
(ii) the income tax credit under § 10-702 of the Tax--General Article; and
(iii) priority consideration for financial assistance from programs in Subtitle 1 of this title.
(2) For purposes of the income tax credit authorized under paragraph (1)(ii) of this subsection, the business entity is treated as being located in an enterprise zone.
(b) A business entity that moves into or locates in a RISE zone on or after the date that the zone is designated under this subtitle may qualify for the incentives under this section.
(c) A business entity may not qualify for the incentives under subsection (a) of this section unless the Department, in consultation with the county or municipal corporation in which a RISE zone is located, certifies the business entity and its location as consistent with the target strategy of the RISE zone.
(d)(1) Unless a business entity makes a significant capital investment or expansion of its labor force after a RISE zone is designated, the incentives under this section are not available to a business entity that was in a RISE zone before the date that the zone is designated.
(2) The Department shall adopt regulations establishing factors to determine if a business entity makes a significant capital investment or expansion of its labor force under paragraph (1) of this subsection.
Cite this article: FindLaw.com - Maryland Code, Economic Development § 5-1406 - last updated December 31, 2021 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-5-1406.html
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