1. A. General Description. The Program tax credits described in the Act authorizing the Program are credits against taxes:

   1. (1) For certain insurance companies, under Article 48A, §634, Annotated Code of Maryland, or Insurance Article, §6-105, (effective October 1, 1997) Annotated Code of Maryland;
   2. (2) For certain financial institutions against the financial institution franchise tax, under Tax-General Article, §8-214, Annotated Code of Maryland;
   3. (3) For certain public service companies against the public service franchise tax, under Tax-General Article, §8-411, Annotated Code of Maryland;
   4. (4) For certain corporations against income tax under Tax-General Article, §10-704.4, Annotated Code of Maryland; and
   5. (5) For individuals against income tax under Tax-General Article, §10-704.6, Annotated Code of Maryland.
2. B. Disclaimer of Liability. The Department makes no representation, and accepts no responsibility, as to any tax or other consequences to a business entity, an individual, or any other party, arising out of the approval of a project, the allocation of credits, or the certification of a contribution.

Authority: Housing and Community Development Article, Title 6, Subtitle 4, Annotated Code of Maryland

Effective date: January 13, 1997 (24:1 Md. R. 28)

Regulation .01 amended effective May 13, 2002 (29:9 Md. R. 744); January 1, 2010 (36:21 Md. R. 1590)

Regulation .02 amended effective May 13, 2002 (29:9 Md. R. 744)

Regulation .02B amended effective January 1, 2010 (36:21 Md. R. 1590)

Regulation .03B amended effective September 17, 2001 (28:18 Md. R. 1619); May 13, 2002 (29:9 Md. R. 744); December 20, 2004 (31:25 Md. R. 1790); January 1, 2007 (33:26 Md. R. 1995); January 1, 2010 (36:21 Md. R. 1590); September 1, 2014 (41:17 Md. R. 970)

Regulation .04B amended effective May 13, 2002 (29:9 Md. R. 744); December 20, 2004 (31:25 Md. R. 1790)

Regulation .05B amended effective May 13, 2002 (29:9 Md. R. 744); December 20, 2004 (31:25 Md. R. 1790); September 11, 2006 (33:18 Md. R. 1505); September 1, 2014 (41:17 Md. R. 970)

Regulation .06A amended effective September 17, 2001 (28:18 Md. R. 1619); May 13, 2002 (29:9 Md. R. 744); September 11, 2006 (33:18 Md. R. 1505)

Regulation .06B amended effective May 13, 2002 (29:9 Md. R. 744); January 1, 2010 (36:21 Md. R. 1590)

Regulation .06D amended effective September 1, 2014 (41:17 Md. R. 970)

Regulation .06F amended effective May 13, 2002 (29:9 Md. R. 744); September 1, 2014 (41:17 Md. R. 970)

Regulation .07 amended effective January 1, 2010 (36:21 Md. R. 1590)

Regulation .07A amended effective September 17, 2001 (28:18 Md. R. 1619); January 1, 2007 (33:26 Md. R. 1995)

Regulation .07D amended effective January 1, 2007 (33:26 Md. R. 1995)

Regulation .08 amended effective January 1, 2010 (36:21 Md. R. 1590)

Regulation .10 amended effective September 11, 2006 (33:18 Md. R. 1505)

Regulation .10A amended effective January 1, 2010 (36:21 Md. R. 1590)

Regulation .11 amended effective March 16, 2015 (42:5 Md. R. 485)

Regulation .13B amended effective January 1, 2010 (36:21 Md. R. 1590)