Sec. 10-235.05. Tax credits for manufacturing, fabrication, assembling, and research and development facilities
Codified through Bill No. CB-018-2026, adopted May 12, 2026, effective July 24, 2026. Source: Municode, Supplement 2026 Update 2. Editorial notes and legislative history omitted.
Prince George's County, Md., Code § 10-235.05 (2026)
Sec. 10-235.05. Tax credits for manufacturing, fabrication, assembling, and research and development facilitiesLinkCopy Citation
(a)
In accordance with the provisions of Section 9-205 of the Tax-Property Article of the Annotated Code of Maryland, there is a tax credit against the property tax imposed on real property that is used as the premises of manufacturing, fabricating, or assembling facilities that locate or expand in the County and meet the qualifications herein. As used in this Section, "high technology" means any business entity, including a developer who enters into a lease agreement with a high technology governmental agency, that is primarily involved with the applications of engineering, life sciences, computer sciences, research and development, or produces materials, parts, or equipment used in the type of applications noted above.
(b)
To qualify for a real property tax credit under this Section, a business entity must:
(1)
Be primarily involved in high technology manufacturing, fabrication, assembling, or research and development, as determined by the County Executive applying the criteria set forth in the regulations;
(2)
Construct, expand, or cause to be constructed or expanded, a building or buildings within the County, to include at least 5,000 square feet of gross floor area (as defined in Subtitle 27 of this Code) to be occupied by said business entity;
(3)
Invest at least $500,000 in the construction or expansion of said building or buildings; and
(4)
Create at least ten (10) new permanent, full-time positions for said business entity to be located within said building or buildings. Neither the relocation of an existing position from any other location within the County to the new or expanded building or buildings nor the reclassification of a preexisting position shall constitute new positions for the purposes of this Section.
(c)
For the first tax year immediately following the year in which the construction or expansion is completed and assessed, the tax credit shall be in an amount equal to one hundred percent (100%) of the amount of the County property tax imposed on the increased assessment attributable to the construction or expansion as determined by the Supervisor of Assessment. The tax credit shall be reduced to eighty percent (80%) in the second taxable year, sixty percent (60%) in the third taxable year, forty percent (40%) in the fourth, twenty percent (20%) in the fifth year and zero percent (0%) each taxable year thereafter. If the subject new or expanded building or buildings are leased to an eligible business entity, the lessor shall reduce by the amount of the tax credit computed under this Section the taxes for which the eligible business entity is contractually liable under a lease agreement. A property tax granted hereunder may not be granted for more than five (5) consecutive years. The total value of the tax credit over five (5) years may not exceed an amount equal to one hundred percent (100%) of the cost of the construction or expansion.
(d)
A real property tax credit shall not be granted under this Section if the new or expanded premises have otherwise been granted a tax credit or exemption under the Tax-Property Article, Annotated Code of Maryland, or the County Code for the taxable year.
(e)
Application for the tax credit established herein shall be made under oath on an application provided by the Director of Finance. The application shall provide a legal description of the property, proof of a properly issued use and occupancy permit applicable to the eligible improvements, and such other information or documentation as the Director may require to determine whether the applicant can qualify for the tax credit.
(f)
The Director of Finance shall determine the eligibility of the taxpayer for the tax credit and notify the State Department of Assessments and Taxation that a taxpayer has been approved for the property tax credit. The State Department of Assessments and Taxation certifies to the Director of Finance the assessed value of the new or expanded premises.
(g)
The Director of Finance shall verify that the taxpayer continues to satisfy the applicable thresholds to qualify for the property tax credit by requiring submission of reports by the taxpayer, as the Director deems necessary.
(h)
A taxpayer that fails to satisfy the applicable threshold to qualify for a property tax credit required under this Section during any year in which a credit was earned must repay the tax credit to the County.
(1)
The Director of Finance shall notify the taxpayer of the failure to qualify and that the credit must be repaid and collect the repayment of the tax credit.
(2)
Interest accrues on the tax credit repayment at the rate established for overdue property taxes from 30 days after the date of notification by the Finance Director.
(i)
The County Executive shall propose regulations to implement this Section for adoption by resolution of Council.