Tuesday, March 29, 2011
Act Now to Save Business Tax Credits
Legislation that could end all state business tax credits has passed the House of Delegates. HB 620 passed the House last Saturday on a vote of 100-38, and will be heard by the Senate Budget & Taxation Committee tomorrow. The bill would subject 29 tax credits to automatic termination every five years unless reenacted by the General Assembly, including such important job incentives as enterprise zones, R&D and biotech tax credits. See the bill summary and a full list of the tax credits in jeopardy here.
The Maryland Chamber opposes this bill because it would eliminate the benefit of many important economic development incentives as marketing tools for Maryland at a time that we need them to help create jobs. Please call or email members of the Senate Budget & Taxation Committee and ask that they oppose HB 620.
Call the Senate Budget & Taxation Committee
Email the Senate Budget & Taxation Committee
The bill will be heard tomorrow, Thursday, March 31, in the Senate Budget & Taxation Committee. We need witnesses to help save these business tax credits. Please volunteer to testify and contact Ron Wineholt at .(JavaScript must be enabled to view this email address).
