Maryland Code, Tax-Property § 9-316

(a)(1) In this section the following words have the meanings indicated.

(2) “Commerce zone” means a priority funding area in Kent County designated by the governing body of Kent County as a commerce zone.

(3) “New, improved, or expanded premises” means commercial or industrial real property, including a building or part of a building that has not been previously occupied, where a business entity locates to conduct business.

(1) purchasing newly constructed premises;

(2) constructing new premises;

(3) causing new premises to be constructed; or

(4) improving existing premises for occupation by the business entity.

(1) 50% for each of the first 5 taxable years;

(2) 25% in taxable years 6 and 7;

(3) 15% in taxable years 8 through 10; and

(4) 0% for each taxable year thereafter.

(1) the specific eligibility requirements for the tax credit authorized under this section;

(2) any additional limitations on eligibility for the credit; and

(3) any other provision necessary to implement the credit.