The Maryland Senate has advanced Gov. Larry Hogan’s proposal to offer Amazon billions of dollars in tax breaks if it builds a headquarters in Montgomery County — but gave the bait an expiration date.
Senators gave initial approval Friday night to what Hogan has described as a $3 billion package of tax credits and exemptions. Nonpartisan legislative analysts have estimated the package’s cost at $5.6 billion through 2054.
Maryland Gov. Larry Hogan details Amazon pitch with $3 billion in tax credits, $2 billion in transportation projects
They adopted an amendment offered by Sen. James Rosapepe, a Prince George’s County Democrat, that terminates the offer on Jan. 1, 2022. Rosapepe said the “sunset” provision is necessary because the legislation does not mention Amazon by name, and could be claimed by any Fortune 100 company that moves to the state.
“This is a deal for Amazon now — this governor, this legislature — and it’s not an open-ended invitation for anybody that wants to take advantage of this,” Rosapepe said.
White Flint Mall and the area around it in Rockville is among 20 sites on a short list that Amazon is considering for its second headquarters complex, in addition to its home operations in Seattle. Cities and communities across the country, including Baltimore, had competed for what they all hoped would bring them a major economic boom.
Click here to read the rest of the article written by Scott Dance over at the Baltimore Sun