Title
AN ACT CONCERNING GREEN BUSINESS REAL AND PERSONAL PROPERTY TAX CREDIT for the purpose of establishing a tax credit for real and personal property used for green business and products, and generally relating to green business development in Prince George's County.
Background
This legislation seeks to establish a green business tax credit for real and personal property tax for businesses engaged in providing green products in the County. Senate Bill 403/House Bill 959 (Chapter 257 of the Laws of Maryland 2009) under Section 9-318 (f) of the Tax - Property Article of the Annotated Code of Maryland authorized Prince George's County to grant, by law, a real or personal property tax credit for certain types of green businesses. The legislation also required the establishment of a jointly appointed Advisory Board, with a majority of the members affiliated with nonprofit environmental organizations in the State, to provide advice on implementation of such a tax credit program in the County. The Green Business Tax Credit Advisory Board issued its final report and recommendations in March 2013 supporting the establishment of a green business tax credit for real and personal property.