Income Tax - Credit for Businesses Relocating From Another State (Come to Maryland Act)

HB 1446 creates a state income tax credit for businesses that relocate their headquarters and base operations to Maryland from another state under specific conditions. To qualify, a business must demonstrate its home state adopted a policy causing a humanitarian crisis based on political beliefs, threatening employees' livelihoods, and harming work supporting underserved communities, while also receiving financial incentives in that state. The credit amount equals comparable financial incentives from the home state, with unused portions carryable to future years. The Department of Commerce administers the program and requires a two-year commitment to maintain operations in Maryland after relocation, and a Business Relocation Council will advertise the credit nationwide.