On February 7, 2025, House Bill 1446, titled the "Come to Maryland Act," was introduced in the Maryland General Assembly by Delegate Amprey. The bill aims to incentivize businesses to relocate their headquarters and operational bases from other states to Maryland by offering a state income tax credit for certain taxable years.

The key provisions of House Bill 1446 include the establishment of a tax credit for qualified business entities that meet specific criteria when relocating to Maryland. The Department of Commerce is designated to administer this tax credit, which allows businesses to carry over any excess credit to subsequent taxable years. Additionally, the bill proposes the formation of a Business Relocation Council tasked with promoting the tax credit to attract businesses to the state.

The bill addresses ongoing concerns regarding Maryland's competitiveness in attracting businesses, particularly in light of neighboring states that have implemented similar incentives. Proponents argue that this initiative could stimulate economic growth, create jobs, and enhance the state's business environment. However, there may be debates surrounding the potential fiscal impact of the tax credit on state revenues and whether it effectively achieves its intended goals.

As discussions around House Bill 1446 progress, stakeholders will likely weigh the economic benefits against the costs associated with the tax incentives. The bill's implications could be significant, potentially reshaping Maryland's business landscape and influencing future legislative efforts aimed at economic development.

In conclusion, House Bill 1446 represents a strategic move by Maryland to bolster its appeal to businesses considering relocation. As the legislative process unfolds, the outcomes of this bill will be closely monitored for their potential impact on the state's economy and business climate.