Reference No. CB-086-2025    Draft No. 1
Type: Council Bill Status: Held in Committee
Meeting Body Sitting as the Committee of the Whole
Meeting Date 10/21/2025
Introduced Date Public Hearing Date
Effective date:    
Title: AN ACT CONCERNING THE LEGACY WEALTH CONSTRUCTION INCENTIVE PROGRAM for the purpose of establishing an incentive program to reduce disparities in private sector construction projects by increasing economic opportunities for minority-owned businesses and locally owned and operated businesses in Prince George’s County.
Proposers/Sponsors: Calvin S. Hawkins
Attachments: 1. B2025086, 2. CB-086-2025 Summary, 3. CB-086-2025 PAFI Legacy Wealth Construction_Final, 4. CB-086-2025 Proposed DR-2
Contact: Leroy D. Maddox Jr., Legislative Attorney

Title

AN ACT CONCERNING THE LEGACY WEALTH CONSTRUCTION INCENTIVE PROGRAM for the purpose of establishing an incentive program to reduce disparities in private sector construction projects by increasing economic opportunities for minority-owned businesses and locally owned and operated businesses in Prince George’s County.

 

Background

The County Disparity Study, done in 2019, recommends utilizing a combination of racially neutral and narrowly tailored racially conscious policy measures to reduce disparities in economic opportunities for minority and women owned firms doing business in Prince George’s County.  This legislation aims to utilize private sector spending to address these disparities. Private sector spending with businesses based in Prince George’s County, especially those with majority ownership by County residents, promotes the local circulation of legacy wealth within communities in the County, creating positive improvements to Prince George’s County’s business tax base by the increasing the ability to invest in important public priorities like public education, public roads and transit services, public safety, and services for seniors and veterans, while reducing the need to burden residential property taxes for such services.



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