(1) Subject to paragraph (2) of this subsection, this subtitle and the tax credit authorized under it shall terminate on January 1, 2014.
(2) As provided in this subtitle, for taxable years beginning on or after January 1, 2014, tax credits earned in credit years beginning before January 1, 2014 may be allowed ratably over a 2-year period, may be carried forward, and are subject to recapture in accordance with § 6-305 of this subtitle.
(b) Limitations.- The tax credit authorized under this subtitle:
(1) may be claimed only for qualified positions at a newly established or expanded business facility that commences operations before January 1, 2013; and
(2) may not be earned for a credit year beginning on or after January 1, 2014.
(1) Subject to paragraph (2) of this subsection, this subtitle and the tax credit authorized under it shall terminate on January 1, 2014.
(2) As provided in this subtitle, for taxable years beginning on or after January 1, 2014, tax credits earned in credit years beginning before January 1, 2014 may be allowed ratably over a 2-year period, may be carried forward, and are subject to recapture in accordance with § 6-305 of this subtitle.
(b) Limitations.- The tax credit authorized under this subtitle:
(1) may be claimed only for qualified positions at a newly established or expanded business facility that commences operations before January 1, 2013; and
(2) may not be earned for a credit year beginning on or after January 1, 2014.
(1) Subject to paragraph (2) of this subsection, this subtitle and the tax credit authorized under it shall terminate on January 1, 2014.
(2) As provided in this subtitle, for taxable years beginning on or after January 1, 2014, tax credits earned in credit years beginning before January 1, 2014 may be allowed ratably over a 2-year period, may be carried forward, and are subject to recapture in accordance with § 6-305 of this subtitle.
(b) Limitations.- The tax credit authorized under this subtitle:
(1) may be claimed only for qualified positions at a newly established or expanded business facility that commences operations before January 1, 2013; and
(2) may not be earned for a credit year beginning on or after January 1, 2014.
