Sec. 14.26.06.05. Amount of Tax Credit

A. Except as provided in §§B and C of this regulation, an individual or corporation that receives an initial credit certificate from the Administration may claim a credit against the State income tax for a taxable year in an amount equal to 0.85 cents for each kilowatt hour of electricity:

(1) Produced by the individual or corporation from qualified energy resources at a qualified Maryland facility during the 5-year period specified in the initial credit certificate; and

(2) Sold by the individual or corporation to a person other than a related person during the taxable year.

B. If the electricity is produced from a qualified energy resource that is co-fired at a facility that produces electricity from coal, the credit is 0.05 cents for each kilowatt hour of electricity produced from the qualified energy resource instead of 0.85 cents.

C. The annual tax credit under this regulation may not exceed 1/5 of the maximum amount of credit stated in the initial credit certificate.