In this subtitle, “catalytic revitalization project” means the substantial rehabilitation of a property in the State: (1) that was formerly owned by the State or the federal government; (2) the rehabilitation of which will foster economic, housing, and community development within the community in which the property is located; and (3) that is out of service and was […]
(a) An individual, a nonprofit organization, or a business entity may claim a tax credit in an amount equal to 20% of the amount stated in the final tax credit certificate issued by the Secretary under § 6–903 of this subtitle for 5 consecutive taxable years beginning with the taxable year in which the catalytic revitalization […]
(a) (1) Subject to the limitations of paragraphs (2) and (3) of this subsection and subsection (b) of this section, on application by an individual, a nonprofit organization, or a business entity, the Secretary shall issue: (i) an initial tax credit certificate in an amount equal to 20% of the individual’s, nonprofit organization’s, or business entity’s estimated new […]
The Secretary, in consultation with the Department of Commerce, shall adopt regulations to carry out the provisions of this subtitle, including regulations that: (1) establish procedures and standards for certifying new construction costs and rehabilitation costs under this subtitle; and (2) establish an application process for the issuance of tax credit certificates under this subtitle, with an […]
(a) Subject to subsection (b) of this section, this subtitle and the credit authorized under it shall terminate January 1, 2031. (b) After the termination of this subtitle: (1) the Secretary may not issue any additional tax credit certificates under § 6–903 of this subtitle; and (2) tax credit certificates issued may be claimed, refunded, carried forward, or transferred […]
