Md. Code, Economic Development § 12-211
This is the official text of Md. Code, Economic Development § 12-211, part of Maryland’s Code, Economic Development — governs the state's economic development programs.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§12–211.
Official statutory text
(a) The principal amount of bonds, interest payable on bonds, the transfer of bonds, and income from bonds, including profit made in the sale or transfer of bonds, are exempt from State and local taxes.
(b) If a political subdivision leases as a lessor its property within a development district, a RISE zone, or a sustainable community:
(1) the property shall be assessed and taxed in the same manner as privately owned property; and
(2) the lease shall require the lessee to pay taxes or payments in lieu of taxes on the assessed value of the entire property and not only on the assessed value of the leasehold interest.
(b) If a political subdivision leases as a lessor its property within a development district, a RISE zone, or a sustainable community:
(1) the property shall be assessed and taxed in the same manner as privately owned property; and
(2) the lease shall require the lessee to pay taxes or payments in lieu of taxes on the assessed value of the entire property and not only on the assessed value of the leasehold interest.
Status: in_force · Read it on the official government site
Need a lawyer in Maryland?
Find a Maryland lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.