A refund payable to a qualified business entity under § 6–403(e) of this subtitle reduces:
(1) the income tax revenue from corporations if the qualified business entity is a corporation subject to the income tax under Title 10 of the Tax – General Article;
(2) the income tax revenue from individuals if the qualified business entity is:
(i) an individual subject to the income tax under Title 10 of the Tax – General Article; or
(ii) an organization exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code; and
(3) insurance premium tax revenues if the qualified business entity is subject to taxation under Title 6 of the Insurance Article.
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