Md. Code, Economic Development § 5-702
This is the official text of Md. Code, Economic Development § 5-702, part of Maryland’s Code, Economic Development — governs the state's economic development programs.
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§5–702.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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