Baltimore City Council
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File #: 22-0212    Version: 0 Name: Residential Retention Tax Credit - Amendment
Type: Ordinance Status: Enacted
File created: 3/21/2022 In control: Baltimore City Council
On agenda: Final action:
Enactment #:
Title: Residential Retention Tax Credit - Amendment For the purpose of amending application requirements for the portable homestead tax credit; terminating the sunset of the credit; and generally relating to the portable homestead property tax credit.
Sponsors: Eric T. Costello, President Nicholas J. Mosby, Sharon Green Middleton, John T. Bullock, Isaac "Yitzy" Schleifer, James Torrence, Robert Stokes, Sr., Antonio Glover
Indexes: Amendment, Residential, Retention, Tax Credits
Attachments: 1. 22-0212 Law, 2. Reassigned Committee 22-0212(3)~1st Reader, 3. 22-0212~1st Reader, 4. BDC 22 0212, 5. DHCD 22-0212, 6. Finance 22-0212, 7. Final Synopsis 22-0212 6 28 22, 8. Final Hearing Notes 22-0212, 9. 2nd Reader Amendmentsv(Floor)(Costello), 10. 22-0212~3rd Reader, 11. 22-0212~3rd Reader, 12. 22-0212 Signed
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
10/24/20220 Mayor Signed by Mayor  Action details Meeting details Not available
8/15/20220 Baltimore City Council Approved and Sent to the Mayor  Action details Meeting details Not available
7/25/20220 Baltimore City Council 3rd Reader, for final passage  Action details Meeting details Not available
7/11/20220 Baltimore City Council Held for 1 meeting  Action details Meeting details Not available
7/11/20220 Ways and Means Recommended Favorably  Action details Meeting details Not available
6/28/20220 Ways and Means Recommended FavorablyPass Action details Meeting details Not available
6/21/20220 Ways and Means Scheduled for a Public Hearing  Action details Meeting details Not available
6/21/20220 Baltimore City Council Reassigned  Action details Meeting details Not available
3/24/20220 Baltimore City Council Refer to City Solicitor  Action details Meeting details Not available
3/24/20220 Baltimore City Council Refer to Dept. of Housing and Community Development  Action details Meeting details Not available
3/24/20220 Baltimore City Council Refer to Baltimore Development Corporation  Action details Meeting details Not available
3/24/20220 Baltimore City Council Refer to Dept. of Finance  Action details Meeting details Not available
3/21/20220 Baltimore City Council Assigned  Action details Meeting details Not available
3/21/20220 Baltimore City Council Introduced  Action details Meeting details Not available

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: Councilmember Costello, President Mosby

                                                                                                                                                           

 

                     A Bill Entitled

 

An Ordinance concerning

title

Residential Retention Tax Credit - Amendment

For the purpose of amending application requirements for the portable homestead tax credit; terminating the sunset of the credit; and generally relating to the portable homestead property tax credit.

body

 

By repealing and re-ordaining, with amendments

Article 28 - Taxes

Sections 10-1.1(c), 10-1.1(k)

Baltimore City Code

(Edition 2000)

 

By repealing

Article 28 - Taxes

Section 10-1.1(l)

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

 

§ 10-1.1  Portable homestead.

 

(c)                     Qualifications.

 

To qualify for the credit authorized by this section, the homeowner must:

 

(1)                     for the 5 tax years preceding the purchase of the new dwelling in Baltimore City:

 

 

(i)                     have owned and occupied, as his or her principal residence, a dwelling in the City; and

 

(ii)                     received a credit under  State Tax-Property Article, § 9-105 {“Homestead tax credit”} for that dwelling;

 

(2)                     occupy the newly purchased dwelling as his or her principal residence;

 

                                                                (3)                     submit an application to the Finance Director in the form and containing the information that the Director requires[, for a credit under this section] either:

 

(i)                     within 90 days of settlement on the newly purchased dwelling or;

 

(ii)                     by September 30, 2022, if settlement on the newly purchased dwelling occurred between July 1, 2020 and June 30, 2022;

 

(4)                     for each tax year for which the credit is sought:

 

(i)                     file a State income tax return as a resident of Baltimore City; and

 

(ii)                     submit a copy of that return to the Director, in the manner and within the time period required by the rules and regulations adopted under this section; and

 

(5)                     comply with all other procedures and conditions required by the rules and regulations adopted under this section.

 

. . .

 

(k)                     Reporting.

 

The Department of Finance shall evaluate the efficacy of the credit established by this section and submit a report of its findings and recommendations on or before December 31, [2018] 2024, and [December 31, 2020] every 2 years thereafter, to:

 

(1)  the Mayor and the City Council; and

 

(2) in accordance with State Government Article, § 2-1246:

 

(i) the Baltimore City House Delegation;

 

(ii) the Baltimore City [Senators] Senate Delegation;

 

(iii) the Senate Budget and Taxation Committee; and

 

(iv) the House Committee on Ways and Means.

 

[(l)  Termination of program.]

 

 [(1)  New credits may not be granted under this section for any tax year beginning on or

   after July 1, 2020.]

 

 [(2)  This subsection does not apply to an owner’s continued receipt of an annual credit,

   as provided in subsection (d) of this section, with respect to a property for  which

   the tax credit was initially granted and received for a tax year ending on or before

   June 30, 2020.]

 

Section 2.  And be it further ordained, That, except as provided in Section 3 of this Ordinance, a homeowner eligible for the credit authorized by Article 28, § 10-1.1 of the City Code, as provided for under § 10-1.1(c)(3)(ii) of the same Article, may receive this credit effective as of the date of settlement on their newly purchased dwelling, and depending on the original date of the settlement, up to 2 years of credit value in an amount up to $1,900, representing (i) $1,000 for the 1st tax year of this credit; and (ii) $900 for the 2nd tax year of this credit, as determined by the Director of Finance.

 

Section 3.  And be it further ordained, That a homeowner eligible for the credit authorized by Article 28, § 10-1.1 of the City Code, as provided for under § 10-1.1(c)(3)(ii) of the same Article, and who newly purchased a dwelling in Baltimore City within a low or moderate income census tract, as further described by § 10-1.1(d)(2), may receive this credit effective as of the date of settlement on their newly purchased dwelling, and depending on the original date of the settlement, up to 2 years of credit value in an amount up to $2,300, representing (i) $1,200 for the 1st tax year of this credit; and (ii) $1,100 for the 2nd tax year of this credit, as determined by the Director of Finance.

 

Section 4.  And be it further ordained, That this Ordinance takes effect on the 30th day after the date it is enacted.