HOUSE BILL 1257

Sponsored By:

Delegates Rosenberg and Taylor

Entitled:

Renewal Communities and New Markets Tax Credits

Synopsis:

Providing that a federally-designated renewal community is an enterprise zone for purposes of provisions of State law providing incentives and initiatives within an enterprise zone and is a revitalization area for purposes of the State job creation tax credit; allowing a State income tax credit for qualified equity investments in qualified Maryland community development entities; requiring the Secretary of Housing and Community Development and the Comptroller to adopt regulations; etc.

History by Legislative Date

House Action

2/9

First Reading Ways and Means

2/14

Hearing 2/28 at 1:00 p.m.

3/30

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Delegate Samuel I. Rosenberg, District 42

Delegate Casper R. Taylor, Jr., District 1C

Bill indexed under the following Subjects:

COMMERCE AND BUSINESS -see also- DEALERS; TRADERS; etc

COMMUNITY DEVELOPMENT

COMPTROLLER

ENTERPRISE ZONES

HOUSING AND COMMUNITY DEVELOPMENT, DEPARTMENT OF

INCOME TAX

INVESTMENTS -see also- SECURITIES

RULES AND REGULATIONS

TAX CREDITS -see also- CIRCUIT BREAKER

WORK, LABOR AND EMPLOYMENT -see also- COL BARG; HOLIDAY; etc

Bill affects the following Statutes:

Article - 83A Department of Business and Economic Development

( 5-401 , 5-402 , 5-1101 )

Tax - General

( 10-722 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered