Explanation: Capitals indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* 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
Introduced by: The Council President
At the request of: The Administration (Baltimore Development Corporation)
A Bill Entitled
An Ordinance concerning
title
Food Desert Incentive Areas - Expenditure Requirements for Tax Credit
For the purpose of establishing a new minimum expenditure requirement for substantially renovated supermarkets that is lower than the expenditure requirement for newly constructed supermarkets; and generally relating to the qualifications for a tax credit granted to certain supermarkets in a Food Desert Incentive Area.
body
By repealing and reordaining, without amendment
Article 28 - Taxes
Section 10-30(a)(7)
Baltimore City Code
(Edition 2000)
By repealing and reordaining, with amendments
Article 28 - Taxes
Section 10-30(b) and (c)
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
§ 10-30. Food Desert Incentive Areas (Personal Property Tax Credit)
(a) Definitions.
(7) Qualified supermarket.
“Qualified supermarket’ means a supermarket that has been newly constructed or newly substantially renovated to meet the qualifications imposed by this subtitle.
(b) Credit granted.
In accordance with [state tax-property article § 9-304] State Tax-Property Article § 9-304(h), a tax credit is granted against the City personal property tax imposed on qualified supermarkets.
(c) Qualifications for credit.
To qualify for the credit granted by this section, a qualified supermarket must:
(1) be located in a Food Desert Incentive Area;
[(2) have expended on new personal property an amount equal to the greater of:
(i) $150,000; or
(ii) $25 per square foot of total floor space;]
(2) [(3)] have at least 500 square feet of total floor space dedicated to the sale of fruits and vegetables; [and]
(3) [(4)] have at least 500 square feet of total floor space dedicated to the sale of other perishable goods, including meat, seafood, and dairy products; and
(4) have expended on new personal property:
(i) for a newly constructed supermarket, an amount equal to the greater of:
(i) $150,000; or
(ii) $25 per square foot of total floor space; or
(ii) for a newly substantially renovated supermarket, an amount based on the supermarket’s total floor space, as follows:
|
Total Floor Space |
Expenditure Required |
|
20,000 sq. ft. or less |
$5 per square foot |
|
More than 20,000 sq. ft. up to 45,000 sq. ft. |
$8 per square foot |
|
More than 45,000 sq. ft. |
$10 per square foot |
Section 2. And be it further ordained, That the catchlines contained in this Ordinance are not law and may not be considered to have been enacted as a part of this or any prior Ordinance.
Section 3. And be it further ordained, That this Ordinance takes effect on the 30th day after the date it is enacted.