Property Tax Credit - Retail Service Station Conversions

HB 341 allows Baltimore City or Maryland counties/municipalities to grant property tax credits to property owners who convert retail service stations (like gas stations) to other retail, residential, or mixed uses. The credit specifically helps cover costs for removing underground storage tanks and cleaning contamination. Local governments can set credit terms, and the state will reimburse them 50% of the lost property tax revenue from the credit. This bill directly affects property owners and local governments managing such conversions, focusing on practical cleanup costs rather than new development.