A public hearing was held today at 10:05 a.m. in the County Commissioners’ Hearing Room, County Government Center, Chestertown, Maryland for the purpose of repealing and re-enacting with amendments, Chapter 152, Article VI, (“Tax Credits for Businesses that Create New Jobs”), Subsection 152-23.B of the Code of Public Local Laws of Kent County, Maryland (Ed. 2005), revising qualifications for credit and removing reference to an obsolete section of the Annotated Code of Maryland. County Commissioners, Ronald Fithian, William Pickrum, and Alexander Rasin were in attendance as well as Susanne Hayman, County Administrator.
Commissioner Fithian read the Notice of Public Hearing into the record.
Ms. Hayman stated for the record, a reference to an obsolete provision in the Annotated Code has been removed clarifying the language to better ensure the original intent of this legislation in allowing qualified businesses to participate in the tax credit.
In response to questions from the general audience in attendance during the regular meeting, Ms. Hayman explained that a business opening their doors in Kent County would qualify for a 6 year tax credit if it has a minimum of 25 employees. An existing business would qualify if they increased their workforce by 25 new jobs and expanded the physical premises by a minimum of 5000 square feet. The first two years the credit is 52%, 39% for the third and forth years, and 26% in the fifth and sixth year. Commissioner Rasin stated that currently there are no plans to adopt legislation for tax credits for smaller businesses.
No additional discussion took place.
This hearing was taped for reference and adjourned at 10:13 a.m.
KENT COUNTY COMMISSIONERS
OF KENT COUNTY, MARYLAND
Kathleen Wirtz, Clerk
Ronald F. Fithian, President