Property Tax - Property Adjacent to Rail Stations - Subclasses and Special Rates
What changed between versions
Added a second property subclass for improvements to real property located within 1 mile of a rail station, expanding the program from just unimproved land to include both land and improvements.
Changed penalty revenue distribution so counties receive 95% instead of 50%, while the Transportation Trust Fund receives 5% instead of 50%.
Updated the definition of rail stations to explicitly include Purple Line stations in addition to existing MARC, Metro SubwayLink, Light RailLink, and Metrorail stations.
Removed Section 4-201(d) from the list of sections being amended, as it was no longer needed after the bill's progression through the legislative process.
Added committee report status and Senate action dates to reflect the bill's progression through the legislative process.