MD SB344

Baltimore City, counties, and municipal corporations may grant property tax credits on real property converted from retail service stations to residential, retail, or mixed-use developments

Tax credits are intended primarily to offset costs of removing underground storage tanks and remediating associated contamination

"Retail use" excludes discount stores (where most items cost $5 or less) and self-service storage facilities from qualifying for the credit

State may reimburse local governments 50% of the forgone property tax revenue from granted credits, subject to budget appropriation

Takes effect June 1, 2025, applicable to taxable years beginning after June 30, 2025