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Maryland Code, Economic Development § 6-301

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.

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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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