Title:
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An Act enabling the County to participate in the State of Maryland’s Brownfields Revitalization Incentive Program; providing a property tax credit for the redevelopment of certain brownfields properties; and generally providing for a brownfields property tax credit as authorized by State law
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Code sections:
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10-235.08 - , 10-235.09 - , 10-235.10 - , 10-235.11 - , 10-235.12 -
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Title
An Act enabling the County to participate in the State of Maryland’s Brownfields Revitalization Incentive Program; providing a property tax credit for the redevelopment of certain brownfields properties; and generally providing for a brownfields property tax credit as authorized by State law
Background
This legislation will enable the County to participate in the State of Maryland’s Brownfields Revitalization Incentive Program by providing a brownfields property tax credit pursuant to Section 9-229 of the Tax-Property Article of the Annotated Code of Maryland. There are decaying commercial areas within the County (especially within established communities) that contain certain properties that are contaminated – or perceived to be contaminated – by hazardous materials or oil. Currently, developers are not eligible to utilize Maryland’s Brownfields Revitalization Incentive Program because the County has not elected to participate and establish a program that would work in tandem with the State program to alleviate distress in established communities. Participation in the program will create an incentive to redevelop brownfield properties.