Maryland 2024 Regular Session

Maryland Senate Bill SB733 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1
2	2
3	3		EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4	4		[Brackets] indicate matter deleted from existing law.
5		-	Underlining indicates amendments to bill.
6		-	Strike out indicates matter stricken from the bill by amendment or deleted from the law by
7		-	amendment.
8	5		sb0733
9	6
10	7		SENATE BILL 733
11	8		Q8 4lr2646
12	9
13	10		By: Senator Carter
14	11		Introduced and read first time: January 31, 2024
15	12		Assigned to: Budget and Taxation
16		-	Committee Report: Favorable
17		-	Senate action: Adopted
18		-	Read second time: March 2, 2024
19	13
20		-	~~CHAPTER ______~~
	14	+	A BILL ENTITLED
21	15
22	16		AN ACT concerning 1
23	17
24	18		Task Force to Study Transparency in Tax Incentives 2
25	19
26	20		FOR the purpose of establishing the Task Force to Study Transparency in Tax Incentives 3
27	21		to study and recommend a uniform process for evaluating certain tax incentives; and 4
28	22		generally relating to the Task Force to Study Transparency in Tax Incentives. 5
29	23
30	24		SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 6
31	25		That: 7
32	26
33	27		(a) In this section, “tax incentives” means: 8
34	28
35	29		(1) tax increment financing authorized under Title 12, Subtitle 2 of the 9
36	30		Economic Development Article; 10
37	31
38	32		(2) payments in lieu of taxes authorized under Title 7, Subtitle 5 of the Tax 11
39	33		– Property Article; 12
40	34
41	35		(3) the Enterprise Zone property tax credit required under § 9–103 of the 13
42	36		Tax – Property Article; and 14
43	37
44	38		(4) the Brownfields Revitalization Incentive Program established under § 15
45	39		5–335 of the Economic Development Article. 16
46	40
47	41		(b) There is a Task Force to Study Transparency in Tax Incentives. 17
	42	+
	43	+	(c) The Task Force consists of the following members: 18
	44	+
	45	+	(1) one member of the Senate of Maryland, appointed by the President of 19
	46	+	the Senate; 20
48	47		2 SENATE BILL 733
49	48
50	49
51		-	(c) The Task Force consists of the following members: 1
	50	+	(2) one member of the House of Delegates, appointed by the Speaker of the 1
	51	+	House; 2
52	52
53		-	(1) ~~one member~~ of the ~~Senate~~ of ~~Maryland, appointed by the President of 2~~
54		-	the ~~Senate~~; 3
	53	+	(3) the Executive Director of the State Department of Assessments and 3
	54	+	Taxation, or the Executive Director’s designee; and 4
55	55
56		-	(2) one member of the House of Delegates, appointed by the Speaker of the 4
57		-	House; 5
	56	+	(4) the following members, appointed by the Governor: 5
58	57
59		-	(3) the Executive Director of the State Department of Assessments and 6
60		-	Taxation, or the Executive Director’s designee; and 7
	58	+	(i) three members who are experts in technology and data collection; 6
61	59
62		-	(4) the following members, appointed by the Governor: 8
	60	+	(ii) two members who are experts in real estate development or 7
	61	+	related fields; 8
63	62
64		-	(i) three members who are experts in technology and data collection; 9
	63	+	(iii) one elected official from the jurisdiction with the largest amount 9
	64	+	of forgone revenue calculated on a per capita basis for fiscal year 2024 attributable to the 10
	65	+	tax incentives; 11
65	66
66		-	(ii) two members who are experts in real estate development or 10
67		-	related fields; 11
	67	+	(iv) one elected official from the jurisdiction with the second largest 12
	68	+	amount of forgone revenue calculated on a per capita basis for fiscal year 2024 attributable 13
	69	+	to the tax incentives; and 14
68	70
69		-	(~~iii~~) one ~~elected official from~~ the ~~jurisdiction with the largest amount 12~~
70		-	of forgone revenue calculated on a ~~per capita basis for fiscal year 2024 attributable to the 13~~
71		-	tax incentives~~; 14~~
	71	+	(v) one representative of the primary economic development 15
	72	+	authority for the jurisdiction with the largest amount of forgone revenue calculated on a 16
	73	+	per capita basis for fiscal year 2024 attributable to the tax incentives. 17
72	74
73		-	(iv) one elected official from the jurisdiction with the second largest 15
74		-	amount of forgone revenue calculated on a per capita basis for fiscal year 2024 attributable 16
75		-	to the tax incentives; and 17
	75	+	(d) The Governor shall designate the chair of the Task Force. 18
76	76
77		-	(v) one representative of the primary economic development 18
78		-	authority for the jurisdiction with the largest amount of forgone revenue calculated on a 19
79		-	per capita basis for fiscal year 2024 attributable to the tax incentives. 20
	77	+	(e) The State Department of Assessments and Taxation shall provide staff for the 19
	78	+	Task Force. 20
80	79
81		-	(d) ~~The Governor shall designate the chair~~ of the Task Force. 21
	80	+	(f) A member of the Task Force: 21
82	81
83		-	(e) The State Department of Assessments and Taxation shall provide staff for the 22
84		-	Task Force. 23
	82	+	(1) may not receive compensation as a member of the Task Force; but 22
85	83
86		-	(f) A member of the Task Force: 24
	84	+	(2) is entitled to reimbursement for expenses under the Standard State 23
	85	+	Travel Regulations, as provided in the State budget. 24
87	86
88		-	(1) ~~may not receive compensation as a member of~~ the Task Force~~; but~~ 25
	87	+	(g) The Task Force shall: 25
89	88
90		-	(2) is entitled to reimbursement for expenses under the Standard State 26
91		-	Travel Regulations, as provided in the State budget. 27
	89	+	(1) study the use and performance of the tax incentives; 26
92	90
93		-	(g) The Task Force shall: 28
	91	+	(2) identify the most appropriate performance metrics for evaluating the 27
	92	+	tax incentives; 28
94	93
95		-	(1) study the use and performance of the tax incentives; 29
	94	+	(3) collect data, for the last 5 years, necessary to evaluate the tax incentives 29
	95	+	using the most appropriate performance metrics; and 30
96	96		SENATE BILL 733 3
97	97
98	98
99		-	(2) identify the most appropriate performance metrics for evaluating the 1
100		-	tax incentives; 2
	99	+	(4) make recommendations regarding: 1
101	100
102		-	(3) ~~collect data,~~ for ~~the last 5 years,~~ ~~necessary to evaluate the tax incentives 3~~
103		-	~~using~~ the ~~most appropriate performance metrics~~; ~~and 4~~
	101	+	(i) the implementation of uniform reporting for data on and 2
	102	+	evaluation of the tax incentives; 3
104	103
105		-	(4) make recommendations regarding: 5
	104	+	(ii) the method for processing, presenting, and preserving data on 4
	105	+	the tax incentives; 5
106	106
107		-	(i) the ~~implementation~~ of ~~uniform reporting for data on and~~ 6
108		-	~~evaluation of~~ the tax incentives; 7
	107	+	(iii) the establishment of standard performance metrics to evaluate 6
	108	+	the tax incentives; and 7
109	109
110		-	(ii) the ~~method for processing,~~ ~~presenting,~~ and ~~preserving data on~~ 8
111		-	the tax incentives; 9
	110	+	(iv) the creation of a public database to make the data and 8
	111	+	performance evaluation of the tax incentives publicly available. 9
112	112
113		-	(iii) the establishment of standard performance metrics to evaluate 10
114		-	the tax incentives; and 11
	113	+	(h) On or before July 1, 2025, the Task Force shall report its findings and 10
	114	+	recommendations to the Governor, the governing body of any local government that 11
	115	+	provides a tax incentive, and, in accordance with § 2–1257 of the State Government Article, 12
	116	+	the General Assembly. 13
115	117
116		-	(iv) the creation of a public database to make the data and 12
117		-	performance evaluation of the tax incentives publicly available. 13
	118	+	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 14
	119	+	1, 2024. It shall remain effective for a period of 1 year and 6 months and, at the end of 15
	120	+	December 31, 2025, this Act, with no further action required by the General Assembly, shall 16
	121	+	be abrogated and of no further force and effect. 17
118	122
119		-	(h) On or before July 1, 2025, the Task Force shall report its findings and 14
120		-	recommendations to the Governor, the governing body of any local government that 15
121		-	provides a tax incentive, and, in accordance with § 2–1257 of the State Government Article, 16
122		-	the General Assembly. 17
123		-
124		-	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 18
125		-	1, 2024. It shall remain effective for a period of 1 year and 6 months and, at the end of 19
126		-	December 31, 2025, this Act, with no further action required by the General Assembly, shall 20
127		-	be abrogated and of no further force and effect. 21
128		-
129		-
130		-
131		-
132		-	Approved:
133		-	________________________________________________________________________________
134		-	Governor.
135		-	________________________________________________________________________________
136		-	President of the Senate.
137		-	________________________________________________________________________________
138		-	Speaker of the House of Delegates.