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Maryland Code, Economic Development § 6-1003

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) In this section, “revitalization area” has the meaning stated in § 6-301 of this title.

(b) For a qualified opportunity zone business that qualifies for a job creation tax credit under § 6-304 of this title:

(1) the Level 1 opportunity zone enhancement is equal to:

(i) $3,075 multiplied by the number of qualified employees working in a facility not located in a revitalization area; and

(ii) $5,125 multiplied by the number of qualified employees working in a facility located in a revitalization area; and

(2) the Level 2 opportunity zone enhancement is equal to:

(i) $3,300 multiplied by the number of qualified employees working in a facility not located in a revitalization area; and

(ii) $5,500 multiplied by the number of qualified employees working in a facility located in a revitalization area.

(c) The enhanced multiplier authorized under subsection (b) of this section is in substitution for and not in addition to the multiplier under § 6-304(b)(1) of this title.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 6-1003 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-6-1003/

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