Legislation - HB0005

Title: Community Development - Maryland New Markets Development Program - Establishment
Sponsored by: Delegates Fair and Patterson
Status: In the House - Hearing 2/12 at 1:00 p.m. (Economic Matters)
Analysis

Synopsis

Establishing the Maryland New Markets Development Program; requiring the Department of Housing and Community Development to administer the Program; authorizing a credit against the State insurance premium receipts tax and certain State insurance retaliatory taxes, fees, charges, and penalties for certain equity investments in certain community development entities; authorizing the Department to recapture a credit under certain circumstances; limiting the credit amounts that may be issued to $18,750,000 for any taxable year; etc.

Committees

Original:: Economic Matters; Ways and Means

Details

Bill File Type: Pre-Filed

Effective Date(s): July 1, 2026

History

Legislation History
Chamber House Calendar Date 10/31/2025 Legislative Date 10/31/2025 Action Pre-filed Proceedings
Chamber House Calendar Date 1/14/2026 Legislative Date 1/14/2026 Action First Reading Economic Matters and Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Community Development - Maryland New Markets Development Program - Establishment Proceedings
Chamber House Calendar Date 1/19/2026 Legislative Date 1/19/2026 Action Hearing 2/12 at 1:00 p.m. (Economic Matters) Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	10/31/2025	10/31/2025	Pre-filed
House	1/14/2026	1/14/2026	First Reading Economic Matters and Ways and Means
			Text - First - Community Development - Maryland New Markets Development Program - Establishment
House	1/19/2026	1/19/2026	Hearing 2/12 at 1:00 p.m. (Economic Matters)

File Code

Subjects

Statutes