In this section the following words have the meanings indicated. “Electric vehicle recharging equipment rebate” means a rebate issued by the Administration under this section for the cost of qualified electric vehicle recharging equipment. “Qualified electric vehicle recharging equipment” means property in the State that is used for recharging motor vehicles propelled by electricity. There is an Electric Vehicle Recharging Equipment Rebate Program. The Administration shall administer the Program. For fiscal years 2021 through 2026, subject to the provisions of this section, an individual, a business entity, or a unit of State or local government may apply to the Administration for an electric vehicle recharging equipment rebate for the costs of acquiring and installing qualified electric vehicle recharging equipment. For each fiscal year, the total amount of rebates issued by the Administration may not exceed $2,500,000. The Administration may allow an applicant to include reasonable installation costs in the cost of qualified electric vehicle recharging equipment for the purpose of calculating the amount of an electric vehicle recharging equipment rebate. Subject to subsection (e) of this section, the Administration may issue an electric vehicle recharging equipment rebate to: an individual in an amount equal to the lesser of: 50% of the costs of acquiring and installing qualified electric vehicle recharging equipment; or $700; or a business entity or unit of State or local government in an amount equal to the lesser of: 50% of the costs of acquiring and installing qualified electric vehicle recharging equipment; or $5,000. Except as provided in paragraph (2) of this subsection, an electric vehicle recharging equipment rebate issued under this section is limited to the acquisition of one recharging system per individual. The Administration may alter the Program to offer additional benefits for the installation of qualified electric vehicle recharging equipment in multifamily housing, planned urban developments, and condominiums in: low– to moderate–income communities located in a census tract with an average median income at or below 80% of the average median income for the State; or overburdened or underserved communities as defined in § 1–701 of the Environment Article. The Administration may adopt regulations to carry out this section. The regulations adopted under this subsection may include: further limitations on the maximum amount of an electric vehicle recharging equipment rebate that may be claimed by an applicant under subsection (d) of this section; additional benefits for the installation of qualified electric vehicle recharging equipment in multifamily housing, planned urban developments, and condominiums located in: low– to moderate–income communities located in a census tract with an average median income at or below 80% of the average median income for the State; or overburdened or underserved communities as defined in § 1–701 of the Environment Article; a requirement that an applicant demonstrate compliance with a State, local, or federal law that applies to the installation or operation of the qualified electric vehicle recharging equipment; and any additional application and qualification requirements deemed appropriate by the Administration.