Prince George's delegates unanimously approve bill to enable tax-increment financing for immersive entertainment venue

The Prince George's County House Delegation's County Affairs Committee voted unanimously to advance PG 4-25 (HB 1247), a bill that would expand the county's tax-increment financing authority to include an "immersive entertainment venue." The brief meeting, chaired by Delegate Julian Ivy, considered the bill and moved it forward on a unanimous voice/roll-call vote.

Miss Michael summarized the measure, saying the bill would alter the definition of an "extraordinary development district" to include immersive entertainment venues and would permit the county to use bond proceeds to acquire, construct or rehabilitate such a venue. The bill also authorizes the Maryland-National Capital Park and Planning Commission to enter an agreement to pledge certain M-NCPPC taxes as security for county bonds tied to an extraordinary development district.

Under the bill's statutory definition described in the hearing, an "immersive entertainment venue" must be privately owned, contain at least 3,000 seats, have an aggregate development cost of at least $500,000,000 and provide an immersive experience such as 4-D visual effects or spherical LED screens.

Tracy Benjamin, deputy chief administrative officer for economic development, told the delegation the legislation would be a vehicle "to allow the county to attract a one-of-a-kind...venue" that would "substantially increase the county's commercial tax base" and help position Prince George's as an innovation and technology hub. "We are excited for the opportunity and ask for your support," Benjamin said.

Speaker Pena Melnick said the "benefits of this project are really impressive" and stressed the county needs more dining and entertainment options to retain spending locally. Several delegates who spoke in explanation of their votes cited job creation and local economic benefits. A motion to move the bill was made, seconded, and Miss Michael conducted a roll call; the delegates recorded affirmative votes and Miss Michael announced a unanimous favorable vote.

Delegate Julian Ivy thanked county staff and state leadership for their work. Vice Chair Roberson reminded members the bill will have additional committee stops; he urged outreach and preparation for the Ways and Means Committee, which the delegation said will hear the measure "on the 26th." The delegation did not take final action beyond advancing the bill at this meeting.

Next steps: the bill will proceed to additional committee consideration outside the delegation; the delegation asked county staff and counsel to continue coordination with state leaders and committee members ahead of the scheduled hearing.