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Maryland Governor Signs Bill to Expand OZ Benefits, Extend HTC Sunset Date

Wednesday, May 1, 2019 - 11:00AM

Maryland Gov. Larry Hogan signed legislation Tuesday to expand state tax incentives to opportunity zones (OZ) and extend the state Historic Tax Credit (HTC) program through 2024. S.B. 581 makes qualifying businesses and property in OZs eligible for the More Jobs for Marylanders program and certain tax credits. The bill also allows local jurisdictions to offer property tax credits for vacant OZ properties that are put back into use and makes other credits available through the Department of Commerce. The legislation extends the state HTC expiration date from the end of 2022 to the end of 2024 and creates a set-aside for HTC properties in OZs.

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