Md. Code Ann., Tax-Gen. § 1-303
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2022
As of January 1, 2019
(a) An evaluation shall be made of the tax credits on or before the dates specified in subsections (b) through (h) of this section.
(b) On or before July 1, 2014, an evaluation shall be made of the tax credits under:
(1) § 10–702 of this article (wages paid in an enterprise zone) and § 9–103 of the Tax – Property Article (qualified property in an enterprise zone); and
(2) Title 6, Subtitle 4 of the Economic Development Article, § 6–119 of the Insurance Article, and § 10–714 of this article (One Maryland economic development).
(c) On or before July 1, 2015, an evaluation shall be made of the tax credits under:
(1) § 10–704 of this article (earned income); and
(2) § 10–730 of this article (film production activity).
(d) On or before July 1, 2016, an evaluation shall be made of the tax credit under § 5A–303 of the State Finance and Procurement Article, § 6–105.2 of the Insurance Article, and § 10–704.5 of this article (sustainable communities).
(e) On or before July 1, 2017, an evaluation shall be made of the tax credits under:
(1) § 9–230 of the Tax – Property Article, § 6–116 of the Insurance Article, and § 10–704.8 of this article (new job creating businesses); and
(2) § 10–704.4 of this article (job creation).
(f) On or before July 1, 2018, an evaluation shall be made of the tax credits under:
(1) § 10–721 of this article (qualified research and development expenses); and
(2) § 10–725 of this article (biotechnology investment incentive).
(g) On or before July 1, 2019, an evaluation shall be made of the tax credit under § 10–702 of this article (wages paid in a Regional Institution Strategic Enterprise zone) and § 9–103.1 of the Tax – Property Article (qualified property in a Regional Institution Strategic Enterprise zone).
(h) On or before July 1, 2021, an evaluation shall be made of the tax credit under § 10–741 of this article and the sales and use tax refund under § 11–411 of this article (More Jobs for Marylanders tax credit).
(a) Subject to subsections (b) and (c) of this section, on a request by the Senate Budget and Taxation Committee, the House Committee on Ways and Means, the Executive Director of the Department, or the Director of the Office of Policy Analysis in the Department, the Department shall conduct an evaluation of a State tax credit, exemption, or preference, or an aspect of a State tax credit, exemption, or preference.
(b) On or before July 1, 2023, the Department shall conduct an evaluation of the tax credits under § 10–733 of this article (innovation investment incentive) and § 10–733.1 of this article (purchase of cybersecurity technology or service).
(c) (1) Beginning October 1, 2022, the Department shall conduct an evaluation at least once every 10 years of each income tax credit that is primarily claimed by business entities and has an annual fiscal impact exceeding $5,000,000.
(2) In conducting a reevaluation of an income tax credit described under paragraph (1) of this subsection for which the Department has previously conducted an evaluation, the Department may conduct an expedited review of the income tax credit if the Department determines that there have been no substantial alterations to the income tax credit since the previous evaluation was conducted.
(d) In consultation with the Senate Budget and Taxation Committee and the House Committee on Ways and Means, the Department shall publish on the Department’s website a schedule of the evaluations to be conducted by the Department.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.