(a) In this subtitle the following words have the meanings indicated.
(b) “Benefit year” means a taxable year in which a qualified business entity claims a program benefit
established under § 6-904 of this subtitle.
(c) “Business entity” means a Fortune 100 company.
(d) “Eligible project” means a project established and operated by a business entity that meets the requirements
set forth under § 6-903 of this subtitle.
(e) “Program” means the Promoting ext-Raordinary Innovation in Maryland's Economy Program established
under this subtitle.
(f) “Qualified business entity” means a business entity operating an eligible project under this subtitle.
(g)(1) “Qualified position” means a position that:
(i) is full-time and of indefinite duration;
(ii) pays at least $60,000 but not more than $500,000 each year;
(iii) is newly created and located at a single eligible project in the State; and
(iv) is filled.
(2) “Qualified position” does not include a position that is:
(i) created when an employment function is shifted from an existing facility of a
business entity in the State to another 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
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