Senate Bill 190, January 23, 2004

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 SENATE BILL 190 C8 41r01 16 CF 411-0141 By: The President (By Request - Administration) and Senators Astle, Brinkley, Colburn, Della, Giannetti, Hafer, Haines, Harris, Hollinger, Hughes, Jacobs, Jones, Kelley, Klausmeier, McFadden, Mooney, Munson, Schrader, and Stone Introduced and read first time: January 23, 2004 Assigned to: Budget and Taxation A BILL ENTITLED AN ACT concerning Maryland Historical Trust - Heritage Structure Rehabilitation Tax Credit Program FOR the purpose of altering a certain limit on the amount of any heritage structure rehabilitation tax credit; altering the treatment of certain multiple structures for purposes of a certain limitation on the credit amount; providing for withdrawal of an application for approval of rehabilitation plans; limiting the time period for submission of an application for a certificate of completion of a rehabilitation; authorizing a credit ( to be claimed for the year a certified rehabilitation is completed only if the Director of the Maryland Historical Trust has issued a certificate of completion, except under certain circumstances; providing for amendment of a tax return to account for a credit; authorizing the Director to charge certain fees; limiting eligibility for a credit to a rehabilitation for which proposed plans are approved prior to substantial completion; extending the termination date for the Heritage Structure Rehabilitation Tax Credit Program; revising a certain limitation on the annual aggregate amount of credits that may be approved for commercial rehabilitations; providing for certain determinations by the Comptroller; defining certain terms; and generally relating to the Heritage Structure Rehabilitation Tax Credit Program. BY repealing and reenacting, with amendments, Article 83B — Department of Housing and Community Development Section 5-801 Annotated Code of Maryland (2003 Replacement Volume) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW. [Brackets] indicate matter deleted from existing law.