ANNAPOLIS, MD — The Moore-Miller administration today highlighted several pieces of landmark legislation that were signed into law during the 2023 legislative session that went into effect July 1. The laws focus on economic development, educational opportunity, and supporting veterans in Maryland.
“When we took office, we pledged that this administration would move fast and move differently,”
said Gov. Moore. “I am grateful for the Maryland General Assembly’s partnership in getting these laws passed; each legislative win is an investment in Marylanders’ well-being and is a critical step forward in ensuring that no one is left behind.”
Laws that go into effect today include:
- H.B. 549, The Fair Wage Act of 2023, will raise the minimum wage to $15 an hour two years ahead of schedule, starting January 1, 2024. Approximately 163,000 workers in Maryland will immediately see their wages rise as a result of this law. These wage increases will benefit 120,000 children across the state.
- H.B. 550, The Clean Energy and Transportation Act, increases incentives to purchase medium-duty and heavy-duty trucks and invest in charging stations. Businesses that make the change from fossil fuel vehicles to electric trucks can receive grants that cover the total cost of the transition.
- H.B. 552, The Innovation Economy Infrastructure Act of 2023, establishes the Build Our Future Grant Pilot Program in the Department of Commerce to provide funding for certain costs for infrastructure projects in eligible technology sectors. This legislation requires certain grantees to provide matching funds and to demonstrate certain abilities and requires the Department to report to the Governor and the General Assembly on the projects funded through and the economic impact of the Program by July 1, 2026.
- H.B. 548, The Access to Banking Act, establishes the Maryland Community Investment Venture Fund as an instrument of the state to develop opportunities for banking institutions and credit unions to better serve the needs of low-to moderate-income Marylanders. This law provides for certain assessment offset credits for certain banking institutions and credit unions in certain areas, authorizing the use of the Banking Institution and Credit Union Regulation Fund for certain purposes.
- S.B. 452, The Film Production Activity Income Tax Credit, will expand eligibility for the credit against the state income tax for certain film production activities to include documentaries and talk, reality, and game shows. The law increases the percentage of total direct costs that qualify for the tax credit, increases the aggregate amount of tax credit certificates that the Secretary of Commerce may issue to for fiscal years 2024 through 2026, and establishes the Maryland Entertainment Council to study and make recommendations regarding Maryland's film, television, and entertainment industry.
- H.B. 553/S.B. 554, Health Care for Heroes Act of 2023, establishes the Tricare Premium Reimbursement Program within the Maryland Military Department. The program will provide members of the Maryland National Guard who utilize the DoD-provided Tricare Reserve Select health care plan and the Tricare Dental Program up to $60 in reimbursements monthly to cover the costs of premiums. This $60 is enough to cover the full individual costs for health care and dental care.
- H.B. 554/S.B. 553, Keep Our Heroes Home Act, increases the military retirement income tax exemption for veterans, spouses, or anyone receiving military pensions in Maryland. The exemption will be increased from $5,000 to $12,500 for individuals under the age of 55 and from $15,000 to $20,000 for individuals over the age of 55.
- H.B. 1219, The Maryland Educator Shortage Reduction Act of 2023, helps train, recruit, and retain highly-trained educators for Maryland schools and child care facilities and provides better behavioral health services to students by recruiting and retaining mental health professionals in schools.
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