Housing Authorities - Tax-Exempt Status - Modifications

This bill modifies Maryland's tax code to exempt properties owned by public housing authorities (including Baltimore Housing Authority, Howard County Housing Commission, and Montgomery County Housing Authority) and certain nonprofit housing corporations from state and local taxes when used for housing eligible low-income residents. It requires these entities to make "payments in lieu of taxes" to local governments through negotiated agreements. The exemption applies to properties directly owned or held through subsidiary entities of these housing authorities. The changes update existing tax law under Maryland's Housing and Community Development code (Section 12-104).