§ 9-263. Qualified opportunity zone business property that was vacant for at least 12 months
West's Annotated Code of MarylandTax-PropertyEffective: July 1, 2019
Effective: July 1, 2019
MD Code, Tax - Property, § 9-263
§ 9-263. Qualified opportunity zone business property that was vacant for at least 12 months
(b) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may grant, by law, a tax credit under this section against the property tax imposed on the eligible assessment of a qualified opportunity zone business property if the property was vacant for at least 12 months before the acquisition of the property by a qualified opportunity fund.
(c) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may establish, by law:
(d) On or before January 1 of the calendar year following the year in which the opportunity zone tax credit is initiated, and each January 1 thereafter, a county or municipal corporation that grants a tax credit under this section shall submit a report, in accordance with § 2-1257 of the State Government Article, to the Senate Budget and Taxation Committee and the House Ways and Means Committee that describes:
Credits
Added by Acts 2019, c. 211, § 2, eff. June 1, 2019. Amended by Acts 2019, c. 8, § 5.
MD Code, Tax - Property, § 9-263, MD TAX PROPERTY § 9-263
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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