Maryland HB840 allows property tax credits for commercial buildings rented to small businesses in designated areas.

Maryland HB840 authorizes the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation to grant a tax credit against the county or municipal corporation property tax for commercial buildings rented to small businesses. This credit applies if the commercial building is located in an arts and entertainment district or a Main Street Maryland community. The bill also allows for setting the amount and duration of the tax credit, additional eligibility criteria, application procedures, and other necessary provisions.

Maryland HB840 allows property tax credits for commercial buildings rented to small businesses in designated areas.

Maryland HB840 authorizes the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation to grant a tax credit against the county or municipal corporation property tax for commercial buildings rented to small businesses. This credit applies if the commercial building is located in an arts and entertainment district or a Main Street Maryland community. The bill also allows for setting the amount and duration of the tax credit, additional eligibility criteria, application procedures, and other necessary provisions.