MD SB598 | 2025 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 27 2025 - 25% progression
Action: 2025-02-06 - Hearing 2/12 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Hearing: Feb 12 @ 1:00 pm Senate Budget and Taxation Hearing
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 27 2025 - 25% progression
Action: 2025-02-06 - Hearing 2/12 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Hearing: Feb 12 @ 1:00 pm Senate Budget and Taxation Hearing
Text: Latest bill text (Introduced) [PDF]
Summary
Requiring the supervisor of assessments for a county to evaluate a certain net operating income calculation when determining the value of commercial real property that is developed under low-income housing provisions of federal law; and applying the Act to all taxable years beginning after June 30, 2025.
Title
Property Tax – Low–Income Housing Tax Credit – Valuation of Property
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-02-06 | Senate | Hearing 2/12 at 1:00 p.m. |
| 2025-02-06 | Senate | Hearing canceled |
| 2025-01-30 | Senate | Hearing 2/19 at 1:00 p.m. |
| 2025-01-27 | Senate | First Reading Budget and Taxation |
Same As/Similar To
HB585 (Crossfiled) 2025-01-28 - Hearing 2/11 at 1:00 p.m.
Subjects
Assessments
Commercial Property
Counties
Low-Income
Property Tax
Residential Property
Tax Credits
Taxes - Property
Commercial Property
Counties
Low-Income
Property Tax
Residential Property
Tax Credits
Taxes - Property
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - Property | 8 | 105 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0598?ys=2025RS |
| Text | https://mgaleg.maryland.gov/2025RS/bills/sb/sb0598f.pdf |
