§ 4-706. Tax status

   (a) In general. -- In an arts and entertainment district:

   (1) each qualifying residing artist is eligible for the income tax subtraction modification under § 10-207(v) of the Tax - General Article;

   (2) the property tax credit under § 9-240 of the Tax - Property Article applies; and

   (3) the exemption from the admissions and amusement tax under § 4-104 of the Tax - General Article applies.

(b) Notification to Comptroller; effective date. --

   (1) On or before July 1 preceding the effective date of its establishment, the Secretary shall notify the Comptroller that an arts and entertainment district is established.

   (2) The subtraction modification under § 10-207(v) of the Tax - General Article applies to each taxable year beginning after December 31 of the year in which the Secretary provides the notice required by paragraph (1) of this subsection.

HISTORY: An. Code 1957, art. 83A, § 4-701(b), (d); 2008, ch. 306, § 2.