Title:
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An Act creating a property tax credit and enhanced property tax credit against the County property tax imposed on real property owned or leased by business entities, and on personal property owned by business entities, that meet certain requirements related to the creation of new jobs; and generally providing for a new jobs tax credit as authorized by State law
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Code sections:
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10-235.13 - , 10-235.14 - , 10-235.15 - , 10-235.16 - , 10-235.17 - , 10-235.18 -
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Title
An Act creating a property tax credit and enhanced property tax credit against the County property tax imposed on real property owned or leased by business entities, and on personal property owned by business entities, that meet certain requirements related to the creation of new jobs; and generally providing for a new jobs tax credit as authorized by State law
Background
This legislation will create a property tax credit and enhanced property tax credit against the County property tax imposed on real property owned or leased by business entities, and on personal property owned by business entities, pursuant to Section 9-230 of the Tax-Property Article of the Annotated Code of Maryland. Eligibility for the credit is based upon the creation of new, permanent, full-time jobs and the occupation of new or expanded premises in the County and thus will provide an incentive for job creation.