<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".04" citation="COMAR 03.04.10.04" title_num="03" subtitle_num="04" chapter_num="10" heading="Maximum Annual Credits.">
  <paragraph num="A.">
    <text>Except as provided in §D of this regulation, the total amount of basic credits approved by the Department under Regulations .02C(1) and .03C(1) of this chapter may not exceed $4,000,000 for any calendar year.</text>
  </paragraph>
  <paragraph num="B.">
    <text>For any calendar year, if the total amount of basic credits applied for by all business entities is less than $4,000,000, the maximum growth credit specified under §C of this regulation shall be increased for that calendar year by the amount equal to $4,000,000 minus the total amount of the basic credits applied for by all business entities.</text>
  </paragraph>
  <paragraph num="C.">
    <text>Except as provided in §B of this regulation, the total amount of growth credits approved by the Department under Regulations .02C(2) and .03C(2) of this chapter may not exceed $4,000,000 for any calendar year.</text>
  </paragraph>
  <paragraph num="D.">
    <text>For any calendar year, if the total amount of growth credits applied for by all business entities is less than $4,000,000, the maximum basic credit specified under §A of this regulation shall be increased for that calendar year by the amount equal to $4,000,000 minus the total amount of the growth credits applied for by all business entities.</text>
  </paragraph>
</regulation>