(a) General rule.--The total tax credit that is available to
a taxpayer for a single eligible project shall be distributed in
four equal amounts over each of the four years specified in
section 1906-G(d). This total amount shall be based on the
number of gross square feet of floor space in the eligible
building, that building's achievement of an appropriate standard
and the tier of achievement earned. In addition, no building may
receive a tax credit unless it has earned achievement at or
above the Tier I level. All the approved projects shall receive
a base tax credit of $35,000.
(b) Additional tax credit.--An additional tax credit shall
be given cumulatively based on the following formula:
(1) For buildings achieving Tier I:
(i) For the first 10,000 gross square feet, $1.50 of
tax credit per square foot.
(ii) For up to the next 40,000 gross square feet, an
additional $.75 of tax credit per square foot.
(iii) For the next 50,000 gross square feet or
greater, an additional $.50 of tax credit per square
foot.
(2) For achieving Tier II:
(i) For the first 10,000 gross square feet, $2.50 of
tax credit per square foot.
(ii) For up to the next 40,000 gross square feet, an
additional $1 of tax credit per square foot.
(iii) For the next 50,000 gross square feet or
greater, an additional $.75 of tax credit per square
foot.
(3) For achieving Tier III:
(i) For the first 10,000 gross square feet, $3.50 of
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