MD SB488

Authorizes Baltimore City, counties, and municipal corporations to exempt all personal property (including manufacturing inventory) from local property tax for manufacturing businesses with 50 or fewer employees

Local jurisdictions may establish their own regulations and procedures to implement the exemption

Covers tools, implements, machinery, manufacturing apparatus, engines, and stock in business used in manufacturing operations

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

Exemption is optional and must be enacted by the local governing body; does not mandate the tax break statewide