(a) In this section “business incubator” has the meaning in the State law which authorizes this property tax credit.
(b) The Director of Finance must allow a tax credit, as authorized by State law, to a taxpayer against all County property tax and special area tax imposed on property that is used as a business incubator if the State, the County, or an agency or instrumentality of the State or County:
(1) owns, controls, or leases the space that is used as a business incubator; or
(2) provides at least 50% of the total funding received by the business incubator from all sources, not including rents received from incubator tenant firms.
(c) The Department of Finance must administer this credit.
(d) The taxpayer must apply annually for the tax credit by the first day of March before the tax year when the tax credit would be allowed. An application must be filed on forms that the Department prescribes. The applicant must submit any supporting document, information, or certification required by the Department.
(e) Any taxpayer aggrieved by a decision of the Director to deny a credit under this Section may appeal that decision to the Maryland Tax Court. Each appeal must be filed within 30 days after the taxpayer receives written notice of the decision from the Director.
(f) The County Executive may adopt regulations under method (2) to administer this Section.
(g) The County Executive must report annually to the County Council on the use of this tax credit.
(h) (1) A person must not knowingly file a false or fraudulent application to obtain a tax credit under this Section. A violation of this subsection is a class A violation.
(2) In addition to the penalties provided under paragraph (1), a person who violates this subsection must pay the County any taxes, together with interest and penalties, offset by the credit, any other penalty due, and the County’s fees and costs in any action to enforce this subsection. (2010 L.M.C., ch. 36, § 1; 2016 L.M.C., ch. 7, § 2.)
Editor’s note—2010 L.M.C., ch. 36, § 2, states, in part: County Code Section 52-18S, enacted by Section 1 of this Act, applies to any tax year that begins on or after July 1, 2010.