(a) In this subtitle the following words have the meanings indicated. (b) “Opportunity zone” means an area that has been designated as a qualified opportunity zone in the State under § 1400Z–1 of the Internal Revenue Code. (c) “Qualified workforce housing project” means a workforce housing project in an opportunity zone that meets requirements for eligibility for the […]
(a) The owner of a qualified workforce housing project or the developer of a proposed project that will become a qualified workforce housing project may apply to the Secretary for allocation to the project of a portion of the State tax credit. (b) An application under this section shall be made in the form and manner and […]
(a) (1) The maximum aggregate available State tax credit that may be allocated for each fiscal year equals the lesser of: (i) the amount appropriated for the Qualified Workforce Housing Tax Credit Reserve Fund for that fiscal year in the State budget as approved by the General Assembly; or (ii) $4,000,000. (2) The Secretary may allocate the aggregate available State […]
(a) On or before the last day of the taxable year in which a qualified workforce housing project that has been allocated a part of the State tax credit under this subtitle is placed in service, the owner shall: (1) notify the Secretary that the project has been placed in service; and (2) certify that the project is […]
On or before December 31 each year, the Secretary shall report, in accordance with § 2–1257 of the State Government Article, to the General Assembly: (1) the number of qualified workforce housing projects that received a tax credit allocation during the year; (2) the number of housing units supported by each qualified workforce housing project that received […]
