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Current as of December 31, 2021 | Updated by FindLaw Staff
(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)(1)(ii)13 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:
(i) if the position is filled before October 1, 2021, a position that:
1. is full-time and of indefinite duration;
2. pays at least 120% of the State minimum wage;
3. is located in the State;
4. is newly created as a result of the establishment or expansion of a business facility in a single location in the State; and
5. is filled; and
(ii) if the position is filled on or after October 1, 2021, a position that:
1. is full-time and of indefinite duration;
2. pays at least:
A. for an employee classification for which there is a prevailing wage rate, as defined under § 17-201 of the State Finance and Procurement Article, the prevailing wage; or
B. for any other employee classification, 150% of the State minimum wage;
3. is located in the State;
4. provides career advancement training;
5. affords the employee the right to collectively bargain for wages and benefits;
6. provides paid leave;
7. is considered covered employment for purposes of unemployment insurance benefits in accordance with Title 8 of the Labor and Employment Article;
8. entitles the employee to workers' compensation benefits in accordance with Title 9 of the Labor and Employment Article;
9. offers employer-provided health insurance benefits with monthly premiums that do not exceed 8.5% of the employee's net monthly earnings;
10. offers retirement benefits;
11. is newly created as a result of the establishment or expansion of a business facility in a single location in the State; and
12. 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)(1)(ii)13 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) “Qualified veteran employee” means an individual who:
(1) is honorably discharged or released under honorable circumstances from active military, naval, or air service as defined in 38 U.S.C. § 101; and
(2) is a qualified veteran as defined under § 51(d)(3)(A) of the Internal Revenue Code for purposes of the federal Work Opportunity Tax Credit.
(f) “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;
(4) a sustainable community, as defined in § 6-301 of the Housing and Community Development Article; or
(5) a Tier I county.
(g) “Small business” means an individual, a partnership, a limited partnership, a limited liability partnership, a limited liability company, or a corporation that employs 50 or fewer total full-time employees.
(h) “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/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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