Bill > HB889

This bill authorizes the governing bodies of Wicomico County and any municipal corporation within Wicomico County to establish a property tax credit for real estate owned by Salisbury Neighborhood Housing Services, Inc., a non-profit organization focused on housing development. This credit would apply to property intended for future transfer to a private owner, used for development, rehabilitation, and transfer to a private owner, and not occupied by administrative or warehouse buildings owned by the organization. If a tax credit is granted, Salisbury Neighborhood Housing Services, Inc. must submit an annual report detailing its real estate holdings and any transactions involving those properties within the jurisdiction that provided the credit. The local governing bodies have the authority to determine the specifics of the tax credit, including its amount, terms, scope, and duration, as well as any other necessary provisions. This legislation is set to take effect on June 1, 2026, and will apply to tax years beginning after June 30, 2026.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0889?ys=2026RS