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Legislation


2002 Regular Session

SENATE BILL 525

File Code: Counties - Generally Crossfiled with: HOUSE BILL 713
Sponsored By:
Senator McFadden (Baltimore City Administration)
Entitled:
Qualified Distressed Counties - State Assisted Tax Increment Financing

Synopsis:

Authorizing a local jurisdiction establishing a development district to pledge towards the repayment of bonds specified amounts remitted by the State to the local jurisdiction; authorizing the Secretary of Business and Economic Development to approve specified development districts for State assistance; requiring the State, as provided in the State budget, to remit to the local jurisdiction a specified amount equal to a portion of State tax revenues attributable to the development district; etc.

History by Legislative Date

Senate Action
2/1
First Reading Budget and Taxation
2/13
Hearing 3/12 at 1:30 p.m.
House Action
No Action
Sponsored by:
Senator Nathaniel J. McFadden, District 45
Baltimore City Administration
Bill indexed under the following Subjects:
ASSESSMENTS AND TAXATION, DEPARTMENT OF
BUDGETS -see also- CAPITAL BUDGETS
BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF
COMMERCIAL REHABILITATION
COMPTROLLER
COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES
COUNTY AND BALTIMORE CITY BONDS
ENTERPRISE ZONES
GROSS RECEIPTS TAX
INCOME TAX
MUNICIPAL CORPORATIONS -see also- ANNAP; BALT; HAGER; OC
PROPERTY TAX
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
SALES AND USE TAX
SPECIAL TAX DISTRICTS
STATE AID
TAX CREDITS -see also- CIRCUIT BREAKER
URBAN RENEWAL -see also- COMMERCIAL REHABILITATION
Bill affects the following Statutes:
Article - 83A Department of Business and Economic Development
( 5-1701 , 5-1702 , 5-1703 , 5-1704 )
Article - 41 Governor - Executive and Administrative Departments
( 14-204 , 14-206 )
Tax - Property
( 9-103 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered
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