ANNAPOLIS – In a significant milestone for Maryland, the Moore-Miller administration announced the implementation of several groundbreaking laws today, marking the successful culmination of the 2023 legislative session. These legislations, effective from July 1, address key areas of focus, including economic development, educational opportunity, and veteran support.
With a commitment to prompt action and a fresh approach, Governor Moore expressed gratitude for collaborating with the Maryland General Assembly in swiftly passing these laws. He emphasized the administration’s dedication to the well-being of Marylanders and the relentless pursuit of an inclusive society where no one is left behind.
Among the laws taking effect, today are:
- H.B. 549, The Fair Wage Act of 2023: The minimum wage in Maryland will be increased to $15 per hour, two years ahead of schedule, commencing on January 1, 2024. This expedited wage hike will immediately benefit approximately 163,000 workers in the state and contribute to the improved livelihoods of 120,000 children.
- H.B. 550, The Clean Energy and Transportation Act: In a bid to promote sustainable practices, this law provides enhanced incentives for businesses to transition from fossil fuel vehicles to electric trucks. Grants covering the total conversion cost will be available to eligible businesses while encouraging investments in charging stations.
- H.B. 552, The Innovation Economy Infrastructure Act of 2023: This legislation establishes the Build Our Future Grant Pilot Program, administered by the Department of Commerce, to fund infrastructure projects in select technology sectors. To ensure accountability, the law mandates grantees to provide matching funds, demonstrate specific capabilities, and requires regular reporting on the project’s economic impact by July 1, 2026.
- H.B. 548, The Access to Banking Act: With the establishment of the Maryland Community Investment Venture Fund, this law aims to improve banking services for low-to-moderate-income Marylanders. It introduces assessment offset credits for banking institutions and credit unions in designated areas while allowing the use of the Banking Institution and Credit Union Regulation Fund for specific purposes.
- S.B. 452, The Film Production Activity Income Tax Credit: Expanding the scope of the tax credit, this law now includes documentaries, talk shows, reality shows, and game shows as eligible film production activities. It increases the qualifying percentage of total direct costs, raises the maximum number of tax credit certificates for fiscal years 2024 through 2026, and establishes the Maryland Entertainment Council to study and advise on the state’s film, television, and entertainment industry.
- H.B. 553/S.B. 554, Health Care for Heroes Act of 2023: Maryland Military Department will administer the Tricare Premium Reimbursement Program, providing monthly reimbursements of up to $60 to members of the Maryland National Guard utilizing the Tricare Reserve Select health care plan and Tricare Dental Program. This funding covers the total individual costs of healthcare and dental care.
- H.B. 554/S.B. 553, Keep Our Heroes Home Act: In recognition of veterans’ contributions, this law increases the military retirement income tax exemption in Maryland. Individuals under the age of 55 will enjoy an exemption increase from $5,000 to $12,500, while those over 55 will see an increase from $15,000 to $20,000.
- H.B. 1219, The Maryland Educator Shortage Reduction Act of 2023: With a focus on education, this legislation addresses the shortage of qualified educators in Maryland schools and childcare facilities. Additionally, it endeavors to improve student behavioral health services by recruiting and retaining mental health professionals in schools.
The enactment of these laws marks a significant stride towards Maryland’s progress and prosperity. The Fair Wage Act of 2023 ensures a fair and livable wage for workers, contributing to a more equitable economy. The Clean Energy and Transportation Act propels the state towards a greener future by incentivizing the adoption of electric trucks and supporting the necessary infrastructure.
Furthermore, the Innovation Economy Infrastructure Act of 2023 strengthens Maryland’s position as a hub for technological advancements by providing funding for infrastructure projects in key sectors. The Access to Banking Act addresses the financial needs of underserved communities, fostering economic empowerment and inclusive growth.
The expansion of the Film Production Activity Income Tax Credit not only promotes the state’s entertainment industry but also creates opportunities for diverse forms of media production. Additionally, the Health Care for Heroes Act of 2023 acknowledges and supports the well-being of members of the Maryland National Guard, ensuring access to affordable healthcare and dental care.
The Keep Our Heroes Home Act recognizes the sacrifices made by veterans and enhances their financial security through increased retirement income tax exemptions. Lastly, the Maryland Educator Shortage Reduction Act of 2023 acknowledges the vital role of educators in shaping the future generation, aiming to attract and retain highly-trained professionals while providing crucial mental health support for students.
The implementation of these laws demonstrates the Moore-Miller administration’s commitment to progressive governance and the betterment of Maryland’s residents. By addressing pressing issues in the economy, education, and veteran support, the administration aims to create a more inclusive and prosperous Maryland for all.
As these laws come into effect, their impact will be closely monitored and evaluated to ensure their effectiveness in achieving the desired outcomes. The administration remains dedicated to transparency and accountability by requiring reporting on the economic impact of the Build Our Future Grant Pilot Program and the activities supported by the Film Production Activity Income Tax Credit.
With the enactment of these landmark legislations, Maryland stands at the forefront of progress and innovation, setting an example for other states to follow. The Moore-Miller administration’s commitment to taking decisive action and fostering collaboration with the Maryland General Assembly has paved the way for a brighter future for the state and its residents.
