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HB 369

Prince George's County - Property Tax Credit - New Businesses PG 407-26

2026 Regular Session

HB 369 provides property tax credits to new businesses in Prince George's County to encourage economic development, reducing county revenue with uncertain fiscal impact.

Hearing 2/03 at 1:00 p.m.
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Bill Summary · HB 369

Legislative bill overview

HB 369 establishes a property tax credit program for new businesses locating or expanding in Prince George's County, Maryland. The bill provides tax incentives to encourage economic development and job creation in the county by reducing property tax burdens on qualifying new commercial enterprises for a specified period.

Why is this important

Property tax credits for new businesses can stimulate local economic growth, attract corporate investment, and generate employment opportunities in Prince George's County. However, these incentives represent foregone tax revenue that must be compensated through other funding sources or reduced public services, making the fiscal trade-offs significant for county budgets.

Potential points of contention

  • Revenue impact: The bill reduces property tax collections, raising questions about how the county will offset lost revenue and maintain public services
  • Equity concerns: Critics may argue that tax breaks for businesses should not burden existing residents and established companies that don't receive similar benefits
  • Definition of "new business": Disputes may arise over which businesses qualify (relocations vs. startups, business expansions, minimum job creation thresholds, etc.)
  • Duration and cost controls: Unclear whether the credit has spending caps, time limits, or performance requirements tied to job creation or investment commitments

Compiled from official sources — confirm details with the bill’s official record.

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