Property Tax Exemption and Payment in Lieu of Taxes - The Hagerstown Multi-Use Sports and Events Facility, Inc.

Added a specific property tax exemption for property owned by The Hagerstown Multi-Use Sports and Events Facility, Inc., used for public social, recreational, and entertainment purposes.

Increased the minimum capital investment requirement from $10,000,000 to $20,000,000 for businesses seeking property tax credits.

Increased the minimum job creation requirement from 100 to 200 new permanent full-time positions for existing businesses seeking tax credits.

Increased the minimum job creation requirement from 5 to 25 new permanent full-time positions for new businesses seeking tax credits.

Increased the minimum square footage requirement from 1,500 to 1,500 square feet for existing businesses (no change in this specific threshold, but context changed with other requirements).

Increased the minimum square footage requirement from 2,500 to 2,500 square feet for new businesses (no change in this specific threshold, but context changed with other requirements).

Added a new definition for 'New or expanded premises' to clarify what qualifies as commercial or industrial real property for the tax credit program.