City of Baltimore - File #: 16-0736

• File #: 16-0736
• Version: 0
• Name: Tax Credits - High-Performance Market-Rate Rental Housing
• Type: Ordinance
• Status: Enacted
• File created: 9/12/2016
• In control: City Council
• Final action: 11/1/2016
• Enactment #: 16-554
• Title: Tax Credits - High-Performance Market-Rate Rental Housing For the purpose of modifying certain provisions concerning the determination of the amount of credit to be granted for the High-Performance Market-Rate Rental Housing Tax Credit for Targeted Areas and for Citywide Areas; and providing that the Director of Finance may adopt rules and regulations for granting partial credits for eligibility for less than a full taxable year.
• Sponsors: City Council President (Administration)
• Indexes: Housing, Rental, Tax Credits

Date	Ver.	Action By	Action	Result
11/14/2016	0	Mayor	Signed by Mayor
10/24/2016	0	City Council	Approved and Sent to the Mayor
10/20/2016	0	City Council	3rd Reader, for final passage
10/20/2016	0	Judiciary and Legislative Investigations	Recommended Favorably with Amendment
9/27/2016	0	Judiciary and Legislative Investigations	Recommended Favorably with Amendment	Pass
9/15/2016	0	The City Council	Refer to Dept. of Real Estate
9/15/2016	0	The City Council	Refer to Dept. of Finance
9/15/2016	0	The City Council	Refer to Board of Estimates
9/15/2016	0	The City Council	Refer to Dept. of Planning
9/15/2016	0	The City Council	Refer to Dept. of Housing and Community Development
9/15/2016	0	The City Council	Refer to City Solicitor
9/12/2016	0	City Council	Assigned
9/12/2016	0	City Council	Introduced
9/12/2016	0	Judiciary and Legislative Investigations	Scheduled for a Public Hearing

Introduced by: The Council President
At the request of: The Administration (Baltimore Development Corporation)

A Bill Entitled

An Ordinance concerning
title
Tax Credits - High-Performance Market-Rate Rental Housing
For the purpose of modifying certain provisions concerning the determination of the amount of credit to be granted for the High-Performance Market-Rate Rental Housing Tax Credit for Targeted Areas and for Citywide Areas; and providing that the Director of Finance may adopt rules and regulations for granting partial credits for eligibility for less than a full taxable year.
body

By authority of
Article - Tax-Property
Section(s) 9-242
Baltimore City Code
(Edition 2000)

By repealing and reordaining, with amendments
Article 28 - Taxes
Section(s) 10-17(d)(1) and (j)(1) and 10-18(d)(1) and (k)(1)
Baltimore City Code
(Edition 2000)

Section 1. Be it ordained by the Mayor and City Council of Baltimore, That the Laws of Baltimore City read as follows:

Baltimore City Code

Article 28. Taxes

Subtitle 10. Credits

§ 10-17. High-performance market-rate rental housing - Targeted areas.

(d) Amount of credit.

(1) The amount of the credit shall equal a percentage, as specified in paragraph (2) of this subsection, of [the difference between]:


(i) if the property is still in the assessment cycle of the first assessment of the completed project following the issuance of an occupancy permit, the difference between the property tax liability that, but for the tax credit, [would be owed for the first full tax year on the first assessment after issuance of an occupancy permit for the completed project; and] is owed in the current year of the assessment cycle, and the total property tax liability on the assessed value of the property prior to the commencement of the proje...