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MD HB1247
Bill
AI Summary
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Expands the definition of "extraordinary development district" in Prince George's County to include sites of immersive entertainment venues, in addition to locations with federal law enforcement agencies
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Defines "immersive entertainment venue" as a privately-owned facility with at least 3,000 seats, minimum $500,000,000 development cost, and advanced display technology including 4D visual effects and spherical LED screens
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Authorizes Prince George's County and its revenue authority to use tax increment financing bond proceeds for acquisition, construction, or rehabilitation of immersive entertainment venues within extraordinary development districts
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Permits the Maryland-National Capital Park and Planning Commission to pledge property taxes as security for bonds issued by Prince George's County for extraordinary development districts, contingent on adoption of resolutions by both the county and the Commission
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Takes effect June 1, 2026
Legislative Description
Prince George's County - Tax Increment Financing - Extraordinary Development District - Alterations PG 425-25
Commerce and Business
Last Action
Favorable with Amendments Report by Ways and Means
3/13/2026