Md. Code Ann., Econ. Dev. § 6-1007
Redline — January 1, 2021 → current.View current text →
Current — January 1, 2022
As of January 1, 2021
(a) In this section, “investment”, “qualified investor”, and “qualified Maryland cybersecurity company” have the meanings stated in § 10–733 of the Tax – General Article.
(a) In this section, “investment”, “qualified investor”, and “qualified Maryland technology company” have the meanings stated in § 10–733 of the Tax – General Article.
(b) For a qualified opportunity fund that is a qualified investor in a qualified Maryland cybersecurity company under § 10–733 of the Tax – General Article, if the qualified Maryland cybersecurity 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) the Level 1 opportunity zone enhancement is 33% of the investment in a qualified Maryland cybersecurity company, not to exceed $300,000; and (2) the Level 2 opportunity zone enhancement is 50% of the investment in the qualified Maryland cybersecurity company, not to exceed $500,000.
(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) the Level 1 opportunity zone enhancement is 33% of the investment in a qualified Maryland technology company, not to exceed $300,000; and (2) the Level 2 opportunity zone enhancement is 50% of the investment in the qualified Maryland technology company, not to exceed $500,000.
(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.
(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.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.