1. (a) In this section, “investment”, “qualified investor”, and “qualified Maryland technology company” have the meanings stated in § 10-733 of the Tax--General Article.

2. (b) For a qualified opportunity fund that is a qualified investor in a qualified Maryland technology company under § 10-733 of the Tax--General Article, if the qualified Maryland technology company, on or after March 1, 2018, is newly established in or expands into an opportunity zone in a county other than Allegany County, Dorchester County, Garrett County, or Somerset County:

   1. (1) the Level 1 opportunity zone enhancement is 33% of the investment in a qualified Maryland technology company, not to exceed $300,000; and
   2. (2) the Level 2 opportunity zone enhancement is 50% of the investment in the qualified Maryland technology company, not to exceed $500,000.
3. (c) The enhanced tax credit percentages and maximums authorized under subsection (b) of this section are in substitution for and not in addition to the percentages and maximums under § 10-733(d) of the Tax--General Article.

Added by Acts 2019, c. 211, § 1, eff. June 1, 2019. Amended by Acts 2020, c. 38, § 1, eff. July 1, 2020; Acts 2021, c. 113, § 1, eff. June 1, 2021.