Bill > SB847

This bill allows 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 and rehabilitation. This credit would apply to properties intended for development, rehabilitation, and eventual sale to private owners, excluding those used for administrative or warehouse purposes. To receive this credit, Salisbury Neighborhood Housing Services, Inc. must submit an annual report detailing its property holdings and any transactions involving those properties within the jurisdiction granting the credit. The bill also empowers the local governing bodies to determine the specifics of the tax credit, including its amount, terms, scope, and duration, and to enact any other necessary provisions to implement this program, with the changes taking effect for taxable years beginning after June 30, 2026.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0847?ys=2026RS