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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) In this section, “eligible economic development project”, “eligible project cost”, “project tax credit”, and “qualified position” have the meanings stated in § 6-401 of this title.
(b) For a qualified opportunity zone business that qualifies for the One Maryland project tax credit under § 6-403 of this title and creates at least 50 qualified positions:
(1) the Level 1 opportunity zone enhancement increases the maximum credit allowed under § 6-403(b)(1)(ii)1 of this title to the lesser of $5,125,000 or the total eligible project cost for the eligible economic development project, less the amount of the credit previously taken for the project in prior taxable years; and
(2) the Level 2 opportunity zone enhancement increases the maximum credit allowed under § 6-403(b)(1)(ii)1 of this title to the lesser of $5,500,000 or the total eligible project cost for the eligible economic development project, less the amount of the credit previously taken for the project in prior taxable years.
Cite this article: FindLaw.com - Maryland Code, Economic Development § 6-1004 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-6-1004/
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