* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)
Introduced by: Councilmember Stokes
A RESOLUTION ENTITLED
A COUNCIL RESOLUTION concerning
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Informational Hearing - Tax Credit Incentives
FOR the purpose of requesting that representatives of the Department of Finance publish on their Department’s web site information that details the tax incentives received by companies, from the City, and the amount of money that devolves to these companies, from these incentives.
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Recently, the Baltimore Sun reported that the Maryland PIRG Foundation published a study, “Transparency in City Spending: Rating the Availability of Online Government Data in America’s Largest Cities”, in which Baltimore received a score of 89, or a B+, with only 3 cities - Chicago, New York, and San Francisco - receiving a higher grade. Said Laura Muth, an associate with Maryland PIRG, “Baltimore’s performance in our study makes clear that spending transparency can be achieved by cities of all sizes. The city scored better than many other cities with significantly larger budgets and populations”.
But Maryland PIRG also said that though Baltimore got a good grade, there is room for improvement, specifically that more information on tax incentives, such as the benefits specific companies receive, should be provided.
Baltimore City awards money in the form of tax-increment financing, tax credit exemptions, and other tax subsidies. These initiatives that result in forgone tax revenue...
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