§ 10-704.5. For certified rehabilitation

Latest version.

   (a) Credit. -- An individual or corporation may claim a credit against the State income tax for a certified rehabilitation as provided under § 5A-303 of the State Finance and Procurement Article.

(b) Refund of credit. -- An individual or corporation that is not otherwise required to file an income tax return, including a corporation exempt from income tax under § 501(c)(3) of the Internal Revenue Code:

   (1) may file a return to claim a refund of the credit under this section; and

   (2) shall file a return if the individual or corporation is subject to the recapture of the credit under this section as provided under § 5A-303 of the State Finance and Procurement Article.

HISTORY: 1996, ch. 601, § 1; 2001, chs. 160, 161; 2005, ch. 44, § 1; ch. 440, § 3.

                    
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