MD HB983

Enterprise Zone Program terminates January 1, 2031, with new zone designations and expansions prohibited if property tax credits exceeded $60 million in the prior fiscal year; businesses already in zones remain eligible for credits if requirements are met

Enterprise Zone income tax credits capped at $250,000 per business entity per year, with total credits for all entities limited to $2 million annually; property tax credits capped at $500,000 per qualified property per year

One Maryland Economic Development Tax Credit Program terminates January 1, 2027, ending state income, insurance premium, and financial institution franchise tax credits for job-creating businesses after that date

Film production activity tax credit carryforward limited to $12 million from prior fiscal years; Department of Commerce required to evaluate and report on potential reforms to the credit by December 1, 2026

Multiple tax changes: biotechnology investment incentive tax credit ends June 30, 2026 (moved from 2028); cybersecurity technology tax credit ends December 31, 2026; REIT dividend deductions added to Maryland taxable income; motor fuel tax dealer discount repealed; tobacco exemption reduced from 5 cartons to 1 carton for consumers bringing cigarettes into the state