House Bill 464 (Chapter 493, Acts of 2010)
This Act extends the termination date of the Maryland Clean Energy Incentive Tax Credit under Section 10-720 of the Tax-General Article by five years to December 31, 2015. A qualified Maryland facility must begin producing qualified energy on or after January 1, 2006, but before January 1, 2016, in order to claim the credit.
This Act further provides that in each of the tax years for which the credit may be claimed, the credit is now refundable if the credit allowed for the taxable year exceeds the State income tax.
The Maryland Energy Administration may no longer issue initial credit certificates for amounts less than $1,000.
This Act takes effect July 1, 2010.