Current with changes from the 2024 Legislative Session
Section 9-257 - New or small business property(a) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may grant, by law, a property tax credit for up to 50% of the county or municipal corporation property tax imposed on personal property that is: (1) not operating property of a railroad or public utility; and(2) owned or leased by a business entity that:(i) has been in operation for no more than 2 years; or(ii) has no more than 15 employees.(b) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may provide, by law, for:(1) the amount and duration of the tax credit under this section;(2) additional eligibility criteria for the tax credit under this section;(3) regulations and procedures for the application and uniform processing of requests for the tax credit; and(4) any other provision necessary to carry out the tax credit under this section.Added by 2016 Md. Laws, Ch. 498,Sec. 1, eff. 6/1/2016.