§ 10-724

# (a)

In this section, “aquaculture oyster float” means a device that is:

# (1)

purchased new;

# (2)

specifically designed for the purpose of growing oysters at or under an individual homeowner’s pier; and

# (3)

constructed to be fully buoyant and facilitate the growth of oysters for the width of the pier.

# (b)

Subject to the limitations of this section, an individual may claim a credit against the State income tax in an amount equal to 100% of the purchase price of aquaculture oyster floats purchased during the taxable year.

# (c)

# (1)

For any taxable year, the credit allowed under this section may not exceed the lesser of:

(i) $500; or

(ii) the State income tax imposed for the taxable year calculated before the application of the credits allowed under this section and under §§ 10-701 and 10-701.1 of this subtitle but after the application of any other credit allowed under this subtitle.

# (2)

The unused amount of the credit may not be carried over to any other taxable year.