ANNAPOLIS, MD-A bill has been introduced in the General Assembly that would allow commercial developers in Maryland to claim a state tax credit.
The “Build Maryland Tax Credit Act,” authorizes at least $4 million a year in tax credits and was introduced by Sen. Roger Manno, D-Montgomery, and Sen. James Mathias Jr., D-Somerset on Jan. 16, according to the Baltimore Business Journal.
If approved, commercial real estate projects would be able to take advantage of a tax credit of up to $25,000 for five years.
A hearing is scheduled on the proposal on Feb. 6 before the Senate Budget and Taxation Committee. If approved by the General Assembly, the measure would go into effect on July 1. See story in the Baltimore Business Journal.
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