Legislation Details

Reference No. CB-046-2013    Draft No. 1
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 6/18/2013
Introduced Date 7/2/2013 Public Hearing Date 37
Effective date:    
Title: AN ACT CONCERNING FINANCE AND TAXATION - TAX CREDITS FOR IMPROVEMENTS TO HISTORIC RESOURCES for the purpose of amending certain requirements for tax credits on County real property taxes for improvements to historic resources in Prince George’s County.
Proposers/Sponsors: M-NCPPC, Andrea C. Harrison, Will Campos, Derrick Leon Davis, Mel Franklin, Mary A. Lehman, Eric C. Olson, Obie Patterson, Karen R. Toles, Ingrid M. Turner
Code sections: 10-235.01 -
Attachments: 1. B2013046.pdf, 2. CB-46-2013 AIS
Contact: Historic Preservation Staff

Title

AN ACT CONCERNING FINANCE AND TAXATION - TAX CREDITS FOR IMPROVEMENTS TO HISTORIC RESOURCES for the purpose of amending certain requirements for tax credits on County real property taxes for improvements to historic resources in Prince George’s County.

Background

Beginning June 1, 2013, for Fiscal Year 2014 and thereafter, State law provides that Counties may increase the tax credit on County real property taxes for improvements to historic resources from ten percent (10%) to twenty-five percent (25%) for the restoration and preservation of properties with historic or architectural value.  Accordingly, this bill amends the percentage and certain date restrictions eligible for tax credits on County real property taxes for improvements to historic resources.