Prince George's County - Property Tax Credit - New Businesses PG 407-26
HB0369 authorizes the governing body of Prince George’s County to create, by local law, a property tax credit against county property tax for certain new businesses. To qualify, a business must own or lease property in the county, create at least 10 full-time jobs, and operate in an industry targeted for expansion by the Prince George’s County Economic Development Corporation. The bill is aimed at encouraging business location, business development, and growth in the county’s employment base.
The bill also gives the county broad discretion to design the credit. Prince George’s County may set the credit amount, determine how long it lasts, establish additional eligibility criteria, and create application and processing procedures. Any credit adopted under the bill may not be granted for more than 10 years. The act takes effect June 1, 2026, and applies to taxable years beginning after June 30, 2026.
HB0369 would amend Maryland’s Property Tax article by adding a Prince George’s County-specific authorization for a local property tax credit. It does not itself create the credit automatically; instead, it enables the county government to enact a credit by law and define its details within the limits set by the bill. The practical effect would be to give Prince George’s County a targeted economic development tool to attract or retain businesses in designated growth industries and to incentivize job creation.
Based on the bill text and the limited available context, the measure appears generally supportive of economic development and job growth, with no recorded votes or committee testimony indicating opposition or controversy. The bill was introduced by the Prince George’s County Delegation and assigned to Ways and Means, suggesting it is a locally driven incentive proposal rather than a broadly contested statewide policy change. The available record shows a hearing scheduled in the House, but no transcript or vote history to indicate divided sentiment.
The main potential point of contention is the use of county property tax credits to subsidize new business activity, which may raise concerns about foregone tax revenue, fairness to existing businesses, or whether the incentive will produce sufficient long-term employment benefits. Another possible issue is the breadth of discretion given to the county to define eligibility and credit terms, which could lead to debate over how targeted or generous the credit should be. No specific objections or supporters are documented in the provided materials.