Maryland HB511 alters the Catalytic Revitalization Project Tax Credit to increase the credit amount and modify eligibility criteria.

Maryland HB511 modifies the Catalytic Revitalization Project Tax Credit by raising the credit amount from 20% to 25% of eligible costs for certain construction and rehabilitation projects. It also changes the eligibility criteria to include projects with a minimum investment of $50 million and 250,000 square feet of existing improvements. The bill requires the Department of Housing and Community Development to publish available credit amounts and application details annually and to issue guidance on the timeline for issuing tax credit certificates.

Maryland HB511 alters the Catalytic Revitalization Project Tax Credit to increase the credit amount and modify eligibility criteria.

Maryland HB511 modifies the Catalytic Revitalization Project Tax Credit by raising the credit amount from 20% to 25% of eligible costs for certain construction and rehabilitation projects. It also changes the eligibility criteria to include projects with a minimum investment of $50 million and 250,000 square feet of existing improvements. The bill requires the Department of Housing and Community Development to publish available credit amounts and application details annually and to issue guidance on the timeline for issuing tax credit certificates.