This post summarizes the status of tax and revenue bills related to the Homestead Property Tax Credit program that MACo either considered or took a position on. Application Extension:  As introduced, HB 128/SB 158 would have extended the application deadline for the Homestead Property Tax Credit from December 31, 2012 to June 1, 2013. Extending the deadline in this manner would not provide sufficient time for the State Department of Assessments and Taxation (SDAT) to process…

This post summarizes the status of tax and revenue bills related to recordation and transfer taxes that MACo either considered or took a position on. Transfer of Property Between Related Entities:  HB 372/ SB 202 would exempt from the recordation and transfer tax the transfer of real property between parent business entities and wholly-owned subsidiaries if the transfer of real property is for no consideration, nominal consideration, or consideration that comprises only the issuance, cancellation, or…

This post summarizes the status of tax and revenue bills related to transportation that MACo either considered or took a position on. Exemption from Vessel Excise Tax: HB 412 / SB 451 would exempt commercial vessels from the vessel excise tax if the vessel is subject to the local admissions and amusement tax and if the amount of the local admission and amusement excise tax collected equals at least 50% of the value of the exemption.…

This post summarizes the status of tax and revenue bills related to tax incentives or tax sales that MACo either considered or took a position on. Subtraction Modification for Qualifying Business Enterprises:  HB 564 / SB 498 would provide tax incentives for the sale or transfer of controlling interest, or the investment in a business that results in the accelerated growth, enhanced capacity, or creation of a small business, minority-owned business, woman-owned business, or certified service-disabled…