§ 5-702. Purpose of enterprise zones; scope of subtitle
West's Annotated Code of MarylandEconomic DevelopmentEffective: June 1, 2022
Effective: June 1, 2022
MD Code, Economic Development, § 5-702
§ 5-702. Purpose of enterprise zones; scope of subtitle
(a) The purpose of the enterprise zones authorized under this subtitle is to attract, retain, and encourage commercial development in economically distressed areas of the State, in partnership with political subdivisions, by incentivizing capital investment and job creation through real property and income tax credits.
(b) Subject to § 9-103 of the Tax--Property Article, a business entity that owns, operates, develops, constructs, or rehabilitates property intended for use primarily as single or multifamily residential property located in an enterprise zone may not benefit from an incentive or initiative under this subtitle.
Credits
Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2022, c. 732, § 1, eff. June 1, 2022.
MD Code, Economic Development, § 5-702, MD ECON DEV § 5-702
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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