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HB 983

State Tax Credits, Modifications, and Exemptions - Alterations and Repeal

2026 Regular Session Introduced by Julie Palakovich Carr

HB 983 modifies and repeals Maryland state tax credits and exemptions, shifting tax obligations and potentially affecting business incentives and state revenue allocation.

Hearing canceled (Ways and Means)
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Bill Summary · HB 983

Legislative bill overview

HB 983 modifies Maryland's state tax credit system by altering existing tax incentives and repealing certain exemptions. The bill affects multiple tax credit programs that currently provide financial benefits to businesses and individuals across various sectors. Specific provisions remain under review in the Ways and Means Committee.

Why is this important

Tax credits and exemptions directly impact state revenue and affect which industries or taxpayers receive preferential treatment under the tax code. Changes to these programs can influence business competitiveness, housing development, economic development priorities, and overall state budget allocations. The timing of these modifications can significantly affect businesses that rely on existing tax incentive structures.

Potential points of contention

  • Revenue impact uncertainty: Repealing exemptions and modifying credits will shift the state's tax burden, but the magnitude and distribution of that shift may be debated
  • Business planning disruption: Companies operating under current tax incentive structures may face unexpected changes to their financial planning and competitive positioning
  • Selective program changes: The bill's scope of "modifications and alterations" is broad, raising questions about which credits/exemptions are targeted and whether the changes are equitable across sectors

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

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