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Maryland Historic Revitalization Tax Credit Program

NOTICE — Changes to Competitive Commercial and Small Commercial Revitalization Tax Credit

HB0027/SB289 was passed by both the House and Senate Chambers and signed into law by Governor Hogan with an effective date of July 1, 2022. Please note the following changes:

Competitive Commercial Revitalization Tax Credit:

  • For each of the fiscal years 2023-2031, the appropriation to the Reserve Fund for competitive commercial projects increases to $20,000,000 annually.
  • The cap on Qualified Rehabilitation Expenditures for commercial projects increases to $5,000,000 for any project that does not qualify as either a level 1 or level 2 opportunity zone; $5,250,000 for a project that qualifies as a level 1 opportunity zone project; and $5,500,000 for a project that qualifies as a level 2 opportunity zone project.

Small Commercial Revitalization Tax Credit:

  • The bill establishes a new Trust Account for Small Commercial projects within the Reserve Fund which will receive an appropriation of $2,000,000 annually for each of the fiscal years 2024-2031. The Small Commercial program will officially reopen July 1, 2023.

If you have any questions about these legislative changes, please contact Kate Jaffe at kate.jaffe@maryland.gov

The purpose of state and federal preservation tax incentives is to encourage private sector investment in the rehabilitation and re-use of historic buildings and to promote investment in local economies.

If you own a certified historic property in Maryland, you may have the opportunity to earn a state income tax credit on qualified rehabilitation expenditures. Whether you are planning to rehabilitate your primary or secondary residence or a commercial property, there are state incentives that may help. Select a project type for more information.

Homeowner Tax Credits       Competitive Commercial Tax Credits       Small Commercial Tax Credits

For general information about the Historic Revitalization Tax Credit Program or to check the status of your project, contact Carey L. Jones, Preservation Officer, Tax Credits, at 410-697-9560; Dana Marks Halpert, Preservation Officer, Tax Credits, at 410-697-9551; Kate Jaffe, Administrator, Preservation Financial Incentives, at 410-697-9537; or Bonnie Baden, (410) 697-9535.

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