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Maryland Code, Economic Development § 6-1007

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

(a) In this section, “investment”, “qualified investor”, and “qualified Maryland technology company” have the meanings stated in § 10-733 of the Tax--General Article.

(b) For a qualified opportunity fund that is a qualified investor in a qualified Maryland technology company under § 10-733 of the Tax--General Article, if the qualified Maryland technology company, on or after March 1, 2018, is newly established in or expands into an opportunity zone in a county other than Allegany County, Dorchester County, Garrett County, or Somerset County:

(1) the Level 1 opportunity zone enhancement is 33% of the investment in a qualified Maryland technology company, not to exceed $300,000; and

(2) the Level 2 opportunity zone enhancement is 50% of the investment in the qualified Maryland technology company, not to exceed $500,000.

(c) The enhanced tax credit percentages and maximums authorized under subsection (b) of this section are in substitution for and not in addition to the percentages and maximums under § 10-733(d) of the Tax--General Article.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 6-1007 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-6-1007/

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