Current as of December 31, 2021 | Updated by FindLaw Staff
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(a) In this subtitle the following words have the meanings indicated.
(b) “Credit year” means the taxable year in which a qualified business entity claims the credit allowed in accordance with § 6-304(a) of this subtitle.
(c)(1) “Qualified business entity” means a person conducting or operating a trade or business in the State that is certified in accordance with § 6-303 of this subtitle as qualifying for the tax credit under this subtitle.
(2) For a person engaged in a business activity described in § 6-303(b)(2)(xiii) of this subtitle, “qualified business entity”:
(i) includes a person owning or operating the multi-use facility in which the entertainment, recreation, cultural, or tourism-related activities are operated; and
(ii) does not include any separate entity that leases retail space at the facility.
(d)(1) “Qualified position” means a position that:
(i) is full-time and of indefinite duration;
(ii) pays at least 120% of the State minimum wage;
(iii) is located in the State;
(iv) is newly created as a result of the establishment or expansion of a business facility in a single location in the State; and
(v) is filled.
(2) “Qualified position” does not include a position that is:
(i) created when an employment function is shifted from an existing business facility of a business entity in the State to another business facility of the same business entity if the position is not a net new job in the State;
(ii) created through a change in ownership of a trade or business;
(iii) created through a consolidation, merger, or restructuring of a business entity if the position is not a net new job in the State;
(iv) created when an employment function is contractually shifted from an existing business entity to another business entity in the State if the position is not a net new job in the State; or
(v) filled for a period of less than 12 months.
(3) For a person engaged in a business activity described in § 6-303(b)(2)(xiii) of this subtitle, “qualified position” does not include any position other than a position engaged in:
(i) the operation of entertainment, recreation, cultural, or tourism-related activities within the multi-use facility; or
(ii) management, marketing, building maintenance, hotel services, or security for the multi-use facility.
(e) “Revitalization area” means:
(1) an enterprise zone designated by the Secretary under § 5-704 of this article;
(2) an enterprise zone designated by the United States government under 42 U.S.C. §§ 11501 through 11505;
(3) an empowerment zone or enterprise community designated by the United States government under 26 U.S.C. §§ 1391 through 1397F; or
(4) a sustainable community, as defined in § 6-301 of the Housing and Community Development Article.
(f) “State priority funding area” means:
(1) a municipal corporation;
(2) Baltimore City;
(3) a sustainable community, as defined in § 6-301 of the Housing and Community Development Article;
(4) an enterprise zone designated by the Secretary under § 5-704 of this article;
(5) an enterprise zone designated by the United States government under 42 U.S.C. §§ 11501 through 11505;
(6) those areas of the State located between Interstate Highway 495 and the District of Columbia;
(7) those areas of the State located between Interstate Highway 695 and Baltimore City;
(8) any area in a county designated by the county as a priority funding area under § 5-7B-03(c) of the State Finance and Procurement Article;
(9) that portion of the Port Land Use Development Zone, as defined in § 6-501 of the Transportation Article, that has been designated as an area appropriate for growth in a county comprehensive master plan; and
(10) a qualified opportunity zone designated under § 1400Z-1 of the Internal Revenue Code in Allegany County, Garrett County, Somerset County, or Wicomico County.
Cite this article: FindLaw.com - Maryland Code, Economic Development § 6-301 - last updated December 31, 2021 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-6-301/
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