Title:
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An Act concerning the Business Incubator Real Property Tax Credit for the purpose of amending the tax credit for real property used for publicly supported business incubator programs.
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Title
An Act concerning the Business Incubator Real Property Tax Credit for the purpose of amending the tax credit for real property used for publicly supported business incubator programs.
Background
Chapter 573 of the Laws of Maryland (2007) authorized the governing body of a County to establish a real property tax credit for properties that house publicly supported business incubator programs under certain conditions. The Council enacted CB-52-2008 in order to establish the business incubator real property tax credit. This legislation will amend provisions of the tax credit as it pertains to the percentage reduction of the tax credit over a ten (10) year period.