Maryland SB767 allows local governments to grant property tax credits for commercial buildings rented to small businesses in designated areas.

Maryland SB767 permits the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation to grant a property tax credit for commercial buildings rented to small businesses. The credit applies if the building is located in an arts and entertainment district or other designated areas. The bill specifies that local governments may set the amount, duration, eligibility criteria, and application procedures for the tax credit. The law takes effect June 1, 2026, and applies to taxable years beginning after June 30, 2026.

Maryland SB767 allows local governments to grant property tax credits for commercial buildings rented to small businesses in designated areas.

Maryland SB767 permits the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation to grant a property tax credit for commercial buildings rented to small businesses. The credit applies if the building is located in an arts and entertainment district or other designated areas. The bill specifies that local governments may set the amount, duration, eligibility criteria, and application procedures for the tax credit. The law takes effect June 1, 2026, and applies to taxable years beginning after June 30, 2026.