- A. Except as provided in §D of this regulation, the total amount of basic credits approved by the Department under Regulations .02C(1) and .03C(1) of this chapter may not exceed $4,000,000 for any calendar year.
- B. For any calendar year, if the total amount of basic credits applied for by all business entities is less than $4,000,000, the maximum growth credit specified under §C of this regulation shall be increased for that calendar year by the amount equal to $4,000,000 minus the total amount of the basic credits applied for by all business entities.
- C. Except as provided in §B of this regulation, the total amount of growth credits approved by the Department under Regulations .02C(2) and .03C(2) of this chapter may not exceed $4,000,000 for any calendar year.
- D. For any calendar year, if the total amount of growth credits applied for by all business entities is less than $4,000,000, the maximum basic credit specified under §A of this regulation shall be increased for that calendar year by the amount equal to $4,000,000 minus the total amount of the growth credits applied for by all business entities.
Authority: Tax-General Article, §§2-103 and 10-721, Annotated Code of Maryland
Effective date: March 4, 2002 (29:4 Md. R. 416)
Regulation .01B amended effective March 31, 2014 (41:6 Md. R. 377)
Regulation .04 amended effective March 31, 2014 (41:6 Md. R. 377)
Regulation .08A amended effective October 9, 2006 (33:20 Md. R. 1613); March 31, 2014 (41:6 Md. R. 377)
Regulation .08C adopted effective March 31, 2014 (41:6 Md. R. 377)
Regulation .13C amended effective March 21, 2011 (38:6 Md. R. 393)
Regulation .14 adopted effective February 9, 2009 (36:3 Md. R. 207)