MD SB596

Exempts property owned by The Hagerstown Multi-Use Sports and Events Facility, Inc. from property tax when used primarily for public social, recreational, and entertainment purposes

Allows the facility to voluntarily pay amounts to Washington County or the City of Hagerstown in lieu of taxes through mutual agreement

Increases job creation requirements for Washington County economic development property tax credits: existing businesses must now create 5 full-time positions (up from 1), new businesses must create 25 positions (up from 5), and large capital investment projects must create 200 positions (up from 100)

Doubles the minimum capital investment threshold for large project tax credits from $10 million to $20 million while reducing the credit percentage from 100% to 75% for the first 5 years

Effective June 1, 2025, applicable to taxable years beginning after June 30, 2025