Wednesday, January 23, 2013
Commercial real estate developers would be able to claim a state income tax credit for their projects under a bill introduced in the General Assembly.
Senate Bill 138, the “Build Maryland Tax Credit Act,” authorizes at least $4 million a year in tax credits. The bill was introduced Jan. 16 by Sen. Roger Manno, D-Montgomery, and Sen. James Mathias Jr., D-Somerset.
The tax credit legislation comes at the same time that Gov. Martin O’Malley wants to launch a new $3.5 million tax credit for cyber security companies, and increase tax credits for biotech firms, research and development and Maryland’s television and film industry.