// EFFECTIVE UNTIL JUNE 30, 2021 PER CHAPTER 320 OF 2016 //
(a) In this subtitle the following words have the meanings indicated.
(b) “Aerospace, electronics, or defense contract tax credit project” means a project that meets the requirements of § 6–702 of this subtitle and is designated as an aerospace, electronics, or defense contract tax credit project by the Department under § 6–702 of this subtitle.
(c) “Credit year” means the taxable year in which a qualified business entity claims the income tax credit allowed in accordance with § 6–702 of this subtitle.
(d) (1) “Qualified business entity” means a person conducting or operating a for–profit trade or business in the State that is certified in accordance with § 6–702 of this subtitle as qualifying for the income tax credit under this subtitle.
(2) “Qualified business entity” does not include a governmental entity.
(e) “Qualified expenditures” means capital expenditures that have been expended or will be expended by a qualified business entity and that the Department determines meet the requirements for an aerospace, electronics, or defense contract tax credit project in accordance with § 6–702 of this subtitle.
(f) (1) “Qualified position” means a position that:
(i) is full time and of indefinite duration;
(ii) has an annual salary of at least $85,000, including associated benefits;
(iii) is located in the State;
(iv) is newly created or retained as a result of the aerospace, electronics, or defense contract tax credit project of the qualified business entity; and
(v) is filled.
(2) “Qualified position” does not include a position that is filled for a period of less than 12 months.