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Bill would extend property-tax exemption for nonprofit affiliates of housing authorities statewide
Summary
Supporters told lawmakers HB1085 would let all Maryland housing authorities preserve property-tax exemptions when they form nonprofit entities to leverage modern financing such as low-income housing tax credits; witnesses said it would help preservation and redevelopment of public housing stock.
Delegate Chris Mayer presented HB 10 85, which would allow all of Maryland’s public housing authorities to extend a property-tax exemption to nonprofit entities that the housing authorities create for development and financing purposes.
“House bill 10 85 simply gives the same ability to the rest of the state's housing authorities,” Mayer said, describing existing pilot provisions in Baltimore City, Montgomery…
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