Section 4-706 - Tax status(a) In an arts and entertainment district: (1) each qualifying residing artist is eligible for the income tax subtraction modification under § 10-207(v) of the Tax - General Article;(2) the property tax credit under § 9-240 of the Tax - Property Article applies; and(3) the exemption from the admissions and amusement tax under § 4-104 of the Tax - General Article applies.(b)(1) On or before July 1 preceding the effective date of its establishment, the Secretary shall notify the Comptroller that an arts and entertainment district is established.(2) The subtraction modification under § 10-207(v) of the Tax - General Article applies to each taxable year beginning after December 31 of the year in which the Secretary provides the notice required by paragraph (1) of this subsection.Brought forward without change, 2021 Md. Laws, Ch. 250,Sec. 1, eff. 7/1/2021.Amended by 2014 Md. Laws, Ch. 576,Sec. 1, eff. 7/1/2014.