Maryland Senate Bill 372: Community Development - Maryland New Markets Development Program - Establishment

Maryland · 2026 Regular Session

What it does

Establishing the Maryland New Markets Development Program; requiring the Department of Housing and Community Development to administer the Program; authorizing a credit against the State insurance premium receipts tax and certain State insurance retaliatory taxes, fees, charges, and penalties for certain equity investments in certain community development entities; authorizing the Department to recapture a credit under certain circumstances; limiting the credit amounts that may be issued to $18,750,000 for any taxable year; etc.

Latest action

Hearing 2/11 at 2:00 p.m. (2026-02-03)

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