Section 11-234 - Qualified personal property or service purchased for eligible project by qualified business entityIN EFFECT** CONTINGENCY - IN EFFECT - CHAPTER 350 OF 2018 **
(a)(1) In this section the following words have the meanings indicated.(2) "Department" means the Department of Commerce.(3) "Eligible project" has the meaning stated in § 6-901 of the Economic Development Article.(4) "Program" means the Promoting ext-Raordinary Innovation in Maryland's Economy Program established under Title 6, Subtitle 9 of the Economic Development Article.(5) "Qualified business entity" has the meaning stated in § 6-901 of the Economic Development Article.(6) "Qualified personal property or services" means personal property or services purchased for use at an eligible project by a qualified business entity that is enrolled in the Program.(b) The sales and use tax does not apply to a sale of qualified personal property or services if the buyer provides the vendor with evidence of eligibility for the exemption issued by the Comptroller.(c)(1) Each year, the Department shall provide the Comptroller with a list of qualified business entities.(2) Within 30 days of receiving a list of qualified business entities from the Department, the Comptroller shall issue, to each qualified business entity, a certificate of eligibility for the exemption under this section.(3) The certificate issued under paragraph (2) of this subsection: (i) must be renewed each year; and(ii) may not be renewed for more than 10 consecutive years.Added by 2018 Md. Laws, Ch. 350,Sec. 2, eff. 6/1/2018. 2018 Md. Laws, Ch. 350,Sec. 6, provides: "(a) If the Department of Commerce fails to certify a business entity as a qualified business entity under Title 6, Subtitle 9 of the Economic Development Article, as enacted by Section 1 of this Act, before January 1, 2022, this Act, with no further action required by the General Assembly, shall be abrogated and of no further force and effect. (b) On or before January 5, 2022, the Secretary of Commerce shall provide notice of the taking effect of the termination provision under subsection (a) of this section to the Department of Legislative Services, 90 State Circle, Annapolis, Maryland 21401. "