Title
AN ACT CONCERNING PROPERTY TAX CREDIT - REDUCED RENT FOR ELDERLY OR DISABLED TENANTS for the purpose of establishing a property tax credit for owners of rental dwellings who provide reduced rent to elderly or disabled tenants; providing for eligibility criteria and amount of credit; and generally relating to the property tax credit for elderly individuals of limited income.
Body
FOR USE BY COUNCIL ADMINISTRATION:
Confidential: Yes
Requested by: Krystal Oriadha
Assigned to: Josh Hamlin
Legislastion Type: Bill
Need by Date: ASAP
Background Necessitating Legislation:
This bill will establish a tax credit for owners of property who provide rental dwellings to elderly or disabled tenants at a reduced rent. The credit will offset a portion of the difference between the market rent and reduced rent for the dwelling. This credit is authorized under §9-219 of the Tax-Property Article of the Annotated Code of Maryland.
Special Instructions/Concerns/Time Critical Information:
Please assign to Josh Hamlin
Agencies or Individuals to Contact:
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Comments/Notes:
AN ACT concerning Property tax credit - reduced rent for elderly or disabled tenants for the purpose of establishing a property tax credit for owners of rental dwellings who provide reduced rent to elderly or disabled tenants; providing for eligibility criteria and amount of credit; and generally relating to the property tax credit for elderly individuals of limited income.
DRAFTER PLEASE COMPLETE THE FOLLOWING:
Proposer(s): Council Member Oriadha
Background
This bill will establish a tax credit for owners of property who provide rental dwellings to elderly or disabled tenants at a reduced rent. The credit will offset a portion of the difference between the market rent and reduced rent for the dwelling. This credit is authorized under §9-219 of the Tax-Property Article of the Annotated Code of Maryland.
REMINDER: Attach the Legislative file document