INTRODUCTION
## Legislative bill overview
This bill, Senate Bill 321, authorizes the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation to grant a property tax credit against the county or municipal property tax for hotel or residential development projects.
## Why is this important
This bill is important as it aims to incentivize the construction or rehabilitation of hotels and residential developments by providing tax credits. It can stimulate economic growth, job creation, and revitalization in certain areas.
## Potential points of contention
- The criteria for qualifying for the tax credit may be subject to interpretation and could lead to disputes.
- Concerns about the potential impact on tax revenue for local governments.
- Potential issues regarding the affordability component for residential units within the development projects.
STATUS
8 months ago -
Passed