On February 1, 2024, MACo Legislative Director Kevin Kinnally testified before the House Ways and Means Committee in support of HB 66- Property Tax Credits- Public School Employees, Health and Safety Improvements, and Property Used for Local Housing Programs. This bill authorizes local governments to establish property tax credits for employees of local school systems, apartment and condominium buildings that establish specific safety regulations, and local housing programs that serve homeless individuals or families.
MACo generally supports legislation that provides broad authority to enact tax incentives for revitalization and tax relief purposes and welcomes the opportunity to work with state policymakers to develop flexible and optional tools to create broad or targeted tax incentives. Counties prefer the approach offered by HB 66, as it provides local autonomy to determine the best way to offer these incentives rather than those that mandate reductions in local revenue sources.
In addition, the bill authorizes local governments to provide, by law, for the duration of the credits, the maximum assessed value of a dwelling that is eligible for the credits and, if necessary, any additional eligibility criteria. This will allow each jurisdiction that enacts the credit to tailor it to their community needs. Additionally, it gives each county broad discretion to determine how much revenue it is willing to forego to provide the desirable benefits enabled by the bill.
HB 66 was heard in the opposite chamber, the Senate Budget and Taxation Committee, on March 26. MACo submitted written testimony in support of this bill.
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