Md. Code Ann., Econ. Dev. § 5-1409

Redline — January 1, 2022 → current.View current text →

Current — January 1, 2023

As of January 1, 2022

(a) The Department and the Comptroller jointly shall assess each year the effectiveness of the tax incentives provided to business entities in RISE zones, including:

(1) the number and amounts of tax incentives granted each year; and

(2) the success of the tax incentives in attracting and retaining business entities in RISE zones.

~~(b) On or before December 15 of each year, the Department and the Comptroller shall submit to the Governor and, in~~ accordance with § ~~2–1257~~ of ~~the State Government Article, the Senate Budget and Taxation Committee and~~ the ~~House Committee on Ways and Means~~ a report ~~outlining the findings of the Department and the Comptroller and any other information of value in determining~~ the effectiveness of the tax incentives authorized under this subtitle.

In accordance with § 2.5–109 of this article, the Department shall submit a report on the effectiveness of the tax incentives authorized under this subtitle.

(c) On or before December 15 each year, the Department shall submit to the Governor and, in accordance with § 2–1257 of the State Government Article, the Senate Budget and Taxation Committee and the House Committee on Ways and Means a report detailing with respect to each RISE zone in which a rental assistance program has been established:

(1) the entity administering the rental assistance program;

(2) the amount of funds received during the previous fiscal year;

(3) the cumulative amount of funds received; and

(4) the amount of funds remaining unspent at the end of the previous fiscal year.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.