MD SB978 | 2020 | Regular Session

Status

Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: Introduced on February 3 2020 - 25% progression
Action: 2020-02-06 - Hearing 2/18 at 2:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Making a certain tax credit for commercial rehabilitations under the historic revitalization tax credit program transferable and refundable under certain circumstances; requiring the Governor to include in the annual budget bill an appropriation of at least $15,000,000 in fiscal year 2022, increasing in each intervening fiscal year up to $30,000,000 in fiscal year 2025, for the tax credit reserve fund; extending the tax credit through fiscal year 2028; applying the Act to taxable years beginning after December 31, 2019; etc.

Tracking Information

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Title

Historic Revitalization Tax Credit - Transferability, Funding, and Extension (Historic Revitalization Tax Credit Improvement Act of 2020)

Sponsors


History

DateChamberAction
2020-02-06SenateHearing 2/18 at 2:00 p.m.
2020-02-03SenateFirst Reading Budget and Taxation

Same As/Similar To

HB862 (Crossfiled) 2020-05-08 - Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 633

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
State Finance and Procurement5A303(n/a)See Bill Text

Maryland State Sources


Bill Comments

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