Bill > SB767

This bill allows the Mayor and City Council of Baltimore City, or the governing body of any county or municipal corporation, to establish a property tax credit for commercial buildings that are rented or rented-to-own at fair market value to a small business. This credit would apply if the commercial building is located in specific designated areas, including an Arts and Entertainment District, a Main Street Maryland community, a Baltimore Main Street, or any other designated business improvement district. The bill also permits these local governments to determine the amount and duration of the tax credit, establish additional eligibility requirements, outline application procedures, and enact any other necessary provisions to implement this tax credit, which would become effective for taxable years beginning after June 30, 2026.