Len Lazarick

Tax hikes include $36M increase on business loans

The Maryland Senate is expected to give final approval today to a package of tax hikes that will raise more than $300 million a year.
But a little noticed provision will also raise $36 million in new taxes from companies that back mortgages on commercial development and homebuilding. Opponents say it will add to the cost of construction and harm Maryland’s business rankings.

State Roundup, May 10, 2012

O’Malley officially calls special session with deal on income tax hikes; Obama’s endorsement of gay marriage could change dynamic of Maryland referendum; Frederick commissioner ignores ethics advice; O’Malley to set up gambling commission that will report back before August; school suspensions mount for kindergarteners; state child support worker caught taking bribe; hours reduced at post offices rather than closing them.