Income Tax - Credit for Pet-Friendly Rental Dwelling Units
Impact
The potential impact of HB 681 on state laws concerns the relationship between landlords and tenants, particularly regarding tenant rights and housing policies. By providing a tax incentive, the bill encourages landlords to modify their rental policies, potentially making it easier for individuals with pets to find suitable housing. This may lead to an increase in the number of pet-friendly rental homes, addressing a key concern for many prospective tenants who are pet owners.
Summary
House Bill 681 seeks to incentivize landlords in Maryland to allow tenants to reside with companion animals by offering a state income tax credit. Specifically, the bill allows landlords to claim a tax credit of $200 for each rental unit that accommodates tenants with companion animals during the taxable year. This legislative move aims to create a more pet-friendly rental market and promote the wellbeing of both tenants and their pets by reducing barriers that prevent such arrangements.
Contention
Notably, the bill does include provisions that allow landlords to impose limitations on the number of companion animals tenants can have and prevent them from charging non-refundable pet fees or imposing breed and size restrictions. Such stipulations may prevent some opposition, as they provide landlords with the ability to maintain a level of control over their properties while still benefiting from the tax credits. Nevertheless, discussions surrounding tenant protections and the balance of rights between landlords and tenants could present points of contention as the bill advances through legislative discussions.
Income tax credit; providing credit to landlords for rental of dwellings to hard to house people; providing procedures; defining terms; prohibiting refundability of credit; authorizing carry forward of credit. Effective date.