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Bill > HB1243
MD HB1243
MD HB1243Prince George's County - Personal Property Tax Exemption for Small Manufacturers PG 423-26
summary
Introduced
02/11/2026
02/11/2026
In Committee
02/11/2026
02/11/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Exempting all personal property in the possession of a person engaged in a manufacturing business with 50 or fewer employees from the personal property tax in Prince George's County.
AI Summary
This bill, applicable to Prince George's County, exempts all personal property, including manufacturing inventory, from property tax for businesses engaged in manufacturing that have 50 or fewer employees. "Manufacturing" is defined as the process of substantially transforming tangible property into a new and different article using labor or machinery, and includes activities like operating mills, extracting and processing minerals, research and development, genetic engineering of biological materials, and the creation of computer software for sale. "Property tax" refers to taxes imposed by the state, a county, or a municipal corporation. This exemption aims to support small manufacturing businesses by reducing their tax burden, with the exemption taking effect for taxable years beginning after June 30, 2026.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Last Action
House Ways and Means Hearing (13:00:00 3/3/2026 ) (on 03/03/2026)
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/HB1243?ys=2026RS |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/hb/hb1243f.pdf |
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