SB 372

Maryland Senate bill in Session 2026.

Status: introduced. Latest action: June 15, 2026.

Community Development - Maryland New Markets Development Program - Establishment.

Bill ID MD-2026-SB-372

Session 2026

Status introduced

Committee Budget and Taxation

Senate introduced 2026-06-15

Housing Insurance / Consumer Protection Tax / Budget / Appropriations

Summary

Establishing the Maryland New Markets Development Program; requiring the Department of Housing and Community Development to administer the Program; authorizing a credit against the State insurance premium receipts tax and certain State insurance retaliatory taxes, fees, charges, and penalties for certain equity investments in certain community development entities; authorizing the Department to recapture a credit under certain circumstances; limiting the credit amounts that may be issued to $18,750,000 for any taxable year; etc.

Sponsor

Senator McCray

Official Source Back to Bills

Actions Timeline

Date	Event	Detail
2026-01-27	Introduced	Bill introduced
2026-01-27	Status	introduced
2026-06-15	Latest Action	In the Senate - Hearing 2/11 at 2:00 p.m.

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