Maryland Code, TAX – PROPERTY 9-256
Terms Used In Maryland Code, TAX - PROPERTY 9-256
(2) “Qualifying investment” includes costs incurred for:
(i) elevators;
(ii) fire suppression systems;
(iii) means of ingress or egress; or
(iv) architectural or engineering services related to installation or rehabilitation of these or similar building features.
(b) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may grant, by law, a property tax credit under this section against the county or municipal corporation property tax imposed on an existing commercial structure in which a qualifying investment is made for the purpose of allowing for adaptive reuse of the structure.
(c) The tax credit under this section may:
(1) not exceed 50% of the amount of qualifying investment in a structure; and
(2) be granted for up to a 10-year period in an equal amount each year.
(d) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may provide, by law, for:
(1) the maximum amount of the tax credit that may be provided to a single recipient or all recipients in a taxable year;
(2) additional eligibility criteria for the tax credit;
(3) regulations and procedures for the application and uniform processing of requests for the tax credit; and
(4) any other provision necessary to carry out the tax credit.