MD HB1243

Manufacturing businesses with 50 or fewer employees in Prince George's County would be exempt from personal property tax on all personal property, including manufacturing inventory

Exemption applies to county property tax and any special taxing district property tax

Municipal corporations retain authority to exempt or tax this property under existing law, but cannot override the county-level exemption

Takes effect June 1, 2026, applicable to taxable years beginning after June 30, 2026

Amends Maryland Tax-Property Article by adding new Section 7-226.1 specific to Prince George's County