Maryland SB405 revises the distribution of sales and use tax revenues, allocating a portion to the City of Baltimore.

Maryland SB405 amends the distribution of sales and use tax revenues, specifically allocating one-third of the revenues derived from retail sales within the City of Baltimore to the city itself. The bill also details the percentage of remaining revenues to be directed to the Blueprint for Maryland’s Future Fund, increasing incrementally from fiscal year 2023 to 2027 and beyond. The remaining revenues are to be placed into the General Fund of the State. This Act is set to take effect on July 1, 2026.

Maryland SB405 revises the distribution of sales and use tax revenues, allocating a portion to the City of Baltimore.

Maryland SB405 amends the distribution of sales and use tax revenues, specifically allocating one-third of the revenues derived from retail sales within the City of Baltimore to the city itself. The bill also details the percentage of remaining revenues to be directed to the Blueprint for Maryland’s Future Fund, increasing incrementally from fiscal year 2023 to 2027 and beyond. The remaining revenues are to be placed into the General Fund of the State. This Act is set to take effect on July 1, 2026.