In this chapter, the following terms have the meanings indicated. Terms Defined. “Business entity” has the meaning stated in Tax-Property Article, §9-103, Annotated Code of Maryland. “Certified” means designated by a political subdivision as complying with the standards submitted by the subdivision as provided in Article 83A, §5-402(d)(4), Annotated Code of Maryland. “Date of finality” has the meaning stated in Tax-Property Article, §1-101(i), Annotated Code of Maryland. “Eligible assessment” means the value of qualified personal property which is initially purchased, acquired, leased, transferred, or otherwise brought into Maryland by a certified business entity from January 1 of the calendar year that entity is first certified until the underlying focus area expires. “Focus area” has the meaning stated in Article 83A, §5-401, Annotated Code of Maryland. “Political subdivision” has the meaning stated in Article 83A, §5-401, Annotated Code of Maryland. “Qualified personal property” means personal property located in a focus area. “Tax credit” means the enterprise zone tax credit provided for in Tax-Property Article, §9-103, Annotated Code of Maryland. “Taxable year” has the meaning stated in Tax-Property Article, §1-101(ii), Annotated Code of Maryland. Qualified personal property entitled to an eligible assessment may receive a tax credit for 10 consecutive taxable years regardless of whether the underlying focus area expires. In order to administer the tax credit, the Department shall receive annually, on or before the date of finality immediately preceding the taxable year for which the tax credit is to be granted, a listing as to the: Business entities certified for the tax credit; and Date the business entities were certified for the tax credit. In each taxable year, the Department shall submit to the appropriate governing body a listing of the amount of the eligible assessments for each certified business entity. Tax-Property Article, §§2-201, 2-202, and 9-103; Article 83A, §5-401 and 5-402; Annotated Code of Maryland Effective date: Regulations .01—.04 adopted as an emergency provision effective December 15, 2000 (28:2 Md. R. 97); emergency status expired May 14, 2001; adopted permanently effective May 28, 2001 (28:10 Md. R. 950)