summary
Introduced
02/05/2024
02/05/2024
In Committee
02/05/2024
02/05/2024
Crossed Over
Passed
Dead
04/08/2024
04/08/2024
Introduced Session
2024 Regular Session
Bill Summary
Exempting all personal property in the possession of a person engaged in a manufacturing business that is a small or medium-sized enterprise from the personal property tax.
AI Summary
This bill exempts all personal property in the possession of a person engaged in a manufacturing business that is a small or medium-sized enterprise from the property tax, including any special taxing district property tax. The bill provides a definition of "manufacturing" and "manufacturer" for the purposes of the exemption. The exemption will take effect on June 1, 2024 and be applicable to all taxable years beginning after June 30, 2024.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
House Ways and Means Hearing (13:00:00 2/27/2024 ) (on 02/27/2024)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1018?ys=2024RS |
| BillText | https://mgaleg.maryland.gov/2024RS/bills/hb/hb1018f.pdf |
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