Monday, April 11, 2011
Tax Credit Sunset Bill Defeated
The Senate Budget and Taxation Committee rejected legislation that would have subjected 29 tax credits to automatic termination every five years unless reenacted by the General Assembly.
The Maryland Chamber opposed the bill (HB 620) because it would have compromised the effectiveness of tax credits that are vital to job creation in Maryland, including such important job incentives as enterprise zones, R&D and biotech tax credits. The Maryland Chamber believes that a better way to accomplish the sponsor’s objectives would be to evaluate the programs first, then introduce legislation to end programs that are shown to be ineffective.
The House of Delegates passed the bill 100-38 earlier this session. For more information, contact Ron Wineholt at .(JavaScript must be enabled to view this email address).
