Board Bumps Up Revenue Projections $130 Million for FY 20

Panel cautions that small uptick is not indicative of long-term economic growth. The Board of Revenue Estimates (BRE) today unanimously to increase the FY 2020 revenue projections for the State of Maryland by $130 million. The Board also set the first official revenue projections for FY 2021 at $19.1 billion – a 1.9% increase over the current estimate for FY 20 revenues. The three-member panel, which includes Comptroller Peter Franchot, State Treasurer Nancy Kopp, and Secretary…

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MACo Needs County Participants for Renewable Energy Siting Advisory Committee

Currently there are three separate workgroups looking at renewable energy siting issues (primarily solar and wind) in Maryland and the work of these groups will likely result in legislation or policy changes that will directly affect local land use planning and taxing authority. MACo is active on all three of these workgroups and is seeking interested county participants to serve on a Renewable Energy Siting Advisory Committee that will help guide MACo's positions on this…

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Queen Anne’s Hopes TIF District Will Improve Local Infrastructure

The Queen Anne's County Commissioners yesterday approved the County's first tax increment financing (TIF) district. The Kent Narrows Development Project was established to provide much-needed infrastructure to support several projects at the Kent Narrows on Kent Island. TIF provides the opportunity to leverage limited public financing of public infrastructure (i.e., roads, sewers, and utilities) to attract private investment. It encourages the development of specific projects that are in the public interest that would otherwise be…

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New Jersey Reconsiders Corporate Tax Incentives

New Jersey has some of the most generous state business tax incentives in the country. The state has awarded billions of dollars in tax breaks through the state’s Grow NJ and Economic Development and Growth (ERG) programs, which expired July 1. Last month, Governor Phil Murphy vetoed legislation to renew the $11 billion programs and instead called on lawmakers to implement his proposal to reform corporate tax incentives in the Garden State. S3901 would have…

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Baltimore County Refines Open Space Waiver Fee; Exempts Senior Housing From Impact Fees

A Baltimore Sun article (2019-09-04) reported that the Baltimore County Council approved legislation that eliminates deductions from developer fees for building and maintaining small parks or open space. Under County law, new home developers must set aside 1,000 square feet of open space per dwelling unit or pay an "open-space waiver fee." Previously, developers could reduce the fee by providing certain amenities, such as rooftop pools. However, such reductions are eliminated for new housing projects starting after…

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State Revenues Exceed Expectations, But Economic Uncertainty Looms
Courtesy of Andrew Schaufele, Director, Bureau of Revenue Estimates
State Revenues Exceed Expectations, But Economic Uncertainty Looms

Maryland Comptroller Peter Franchot today announced that revenues FY 2019 came in $216.6 million above the Board of Revenue Estimates’ (BRE) projections, bringing the unassigned balance of the State’s General Fund to $351 million, or less than one percent of the total FY 19 operating budget of $44.6 billion. General Fund (GF) revenues in FY 2019 totaled $18.199 billion, an increase of 4.8% over FY 2018, and 1.2% above the BRE's estimate. Excluding irregular distributions…

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2019 Homeowners’ and Renters’ Tax Credit Applications Available Online

The Maryland State Department of Assessments and Taxation (SDAT) has developed a new online application system for the 2019 Homeowners' and Renters' Property Tax Credit Programs. SDAT will be accepting applications through October 1, 2019, as compared to the expected deadline of September 3, 2019. According to a press release: SDAT will be accepting applications through October 1, 2019, as compared to the expected deadline of September 3rd. Also, as part of the 2019 Tax…

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Howard Council to Consider Raising School Facilities Surcharge on Developers

Howard County Councilmembers Christiana Mercer Rigby and Deb Jung this week pre-filed legislation to raise the School Facilities Surcharge on newly-constructed residential units in Howard County. The Maryland General Assembly this year authorized Howard County to enact a local law that provides for an annual adjustment in the amount of the school facilities surcharge. “Looking to the future, our public infrastructure projects must be adequately funded in Howard County,” said Mercer Rigby. “We are taking the…

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