Legislation

Title: Economic Development - Maryland Economic Development Program and One Maryland Tax Credit
Sponsored by: Senators Edwards, Eckardt, Hershey, Mathias, and Serafini
Status: In the Senate - Hearing 3/15 at 2:30 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Establishing the Maryland Economic Development Program to encourage businesses to locate and expand in the State; providing that for 10 taxable years after a business is designated as a qualified business under the Program the business is eligible for a specified property tax exemption, income tax subtraction modification, and sales and use tax exemption; establishing the Rural Economic Development Program Infrastructure Fund as a special, nonlapsing fund to be used to make grants to specified counties; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Details

Bill File Type: Regular

Effective Date(s): October 1, 2016

Bill imposes a mandated appropriation in the annual State Budget Bill

Bill imposes a local government mandate which is a directive in a bill requiring a local government unit to perform a task or assume a responsibility that has a discernible fiscal impact on the local government unit

History

Legislation History
Chamber Senate Calendar Date 2/08/2016 Legislative Date 2/05/2016 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/10/2016 Legislative Date 2/10/2016 Action Hearing 3/15 at 2:30 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	2/08/2016	2/05/2016	First Reading Budget and Taxation
Senate	2/10/2016	2/10/2016	Hearing 3/15 at 2:30 p.m.

Documents

Date Posted	Document Name
2/09/2016	Text - First - Economic Development - Maryland Economic Development Program and One Maryland Tax Credit

File Code

Subjects

Statutes