HB 620 passed the House and currently is being heard by the Senate Budget and Taxation Committee. The bill would subject 29 tax credits to automatic termination every five years unless reenacted by the General Assembly. Tax credits that would be jeopardized would include enterprise zones, R&D and bio-tech tax credits.
Economic development officials and the Maryland Chamber of Commerce oppose the bill because it would hinder the benefit of many important economic development incentives as marketing tools for Maryland during a time that they are crucial in the effort to help create new jobs. Please call or email members of the Senate Budget & Taxation Committee and ask them to oppose HB 620. See the bill summary and full list of credits in jeopardy click here.