Maryland § 10-4A-10
Full text of Maryland Maryland Code § 10-4A-10, with citation guidance and answers to common questions.
§ 10-4A-10.
(a) The Authority shall obtain the services of an independent third party to conduct a bidding process in order to secure purchasers for the Program as provided in this section.
(b) Using the procedures adopted by the independent third party, each potential purchaser shall make a timely and irrevocable offer, subject only to the Corporation’s issuance to the purchaser of tax credit certificates, to make specified contributions of designated capital to the Corporation on the dates specified in § 10–4A–11(a) of this subtitle.
(c) The offer shall include:
(1) the requested amount of tax credits, which may not be less than $1,000,000;
(2) the potential purchaser’s specified contribution for each tax credit dollar requested, which may not be less than the greater of:
(i) 70% of the requested dollar amount of tax credits; or
(ii) the percentage of the requested dollar amount of tax credits that the Secretary, on the recommendation of the independent third party, determines to be consistent with market conditions as of the offer date; and
(3) any other information the independent third party requires.
(d) (1) The deadline for submission of applications for tax credits is February 1, 2012.
(2) Each potential purchaser shall receive a written notice from the Corporation not later than May 1, 2012, indicating whether or not it has been approved as a purchaser and, if so, the amount of tax credits allocated.
(e) The maximum amount of premium tax credits that may be allocated under this subtitle for all years in which premium tax credits are allocated is $100,000,000.
Frequently Asked Questions About Maryland § 10-4A-10
What does Maryland Code § 10-4A-10 cover?
Section 10-4A-10 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 10-4A-10?
A common citation format is "Maryland Code § 10-4A-10" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 10-4A-10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.