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MarylandSB 04402026 Regular SessionSenateWALLET

Income Tax - Theatrical Production Tax Credit - Alterations and Sunset Extension

Sponsored By: Guy Guzzone (Democratic)

Signed by Governor

Taxes - IncomeArt, Music, and Cultural Affairs -see also- EthAff; Mus; etcCommerce, Department ofIncome TaxSunsetTax CreditsTheaters

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Refundable tax credit for theatrical productions

Qualified theatrical production entities can claim a Maryland income tax credit equal to the amount on their approved certificate. If the credit is larger than the State tax owed, they receive a refund for the extra. These rules apply beginning July 1, 2026 and remain in place until June 30, 2032.

Theatrical credit extended through 2032

The theatrical production tax credit applies to tax years that start after December 31, 2021 and before January 1, 2032. The program stays in effect until June 30, 2032. This keeps the credit available to eligible productions during those years.

Caps and carryforward for production credits

Each fiscal year, the State issues up to $5 million in production credit certificates. If less than $5 million is used, the unused amount can be carried forward to later years. The total carried forward from past years cannot exceed $20 million. Any single production is capped at $2 million. These limits start July 1, 2026 and last through June 30, 2032.

Sponsors & Cosponsors

Sponsor

  • Guy Guzzone

    Democratic • Senate

Cosponsors

  • Jack Bailey

    Republican • Senate

  • Paul D. Corderman

    Republican • Senate

  • Shelly Hettleman

    Democratic • Senate

  • Nancy J. King

    Democratic • Senate

  • Cory V. McCray

    Democratic • Senate

  • Johnny Ray Salling

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 200 • No: 19

Senate vote • 4/8/2026

Third Reading Passed

Yes: 42 • No: 1 • Other: 3

House vote • 4/7/2026

Third Reading Passed

Yes: 119 • No: 17 • Other: 2

Senate vote • 3/5/2026

Third Reading Passed

Yes: 39 • No: 1 • Other: 3

Actions Timeline

  1. Approved by the Governor - Chapter 19

    4/14/2026

  2. Passed Enrolled

    4/8/2026Senate

  3. Third Reading Passed (42-1)

    4/8/2026Senate

  4. Senate Concurs House Amendments

    4/8/2026Senate

  5. Third Reading Passed (119-17)

    4/7/2026House

  6. Second Reading Passed with Amendments

    4/3/2026House

  7. Favorable with Amendments {193924/1 Adopted

    4/3/2026House

  8. Favorable with Amendments Report by Ways and Means

    4/2/2026House

  9. Hearing 3/25 at 1:30 p.m.

    3/25/2026House

  10. Hearing canceled

    3/25/2026House

  11. Hearing 3/25 at 1:00 p.m.

    3/16/2026House

  12. Referred Ways and Means

    3/6/2026House

  13. Third Reading Passed (39-1)

    3/5/2026Senate

  14. Second Reading Passed with Amendments

    3/3/2026Senate

  15. Favorable with Amendments {153925/1 Adopted

    3/3/2026Senate

  16. Favorable with Amendments Report by Budget and Taxation

    3/2/2026Senate

  17. Hearing 2/11 at 2:00 p.m.

    2/3/2026Senate

  18. First Reading Budget and Taxation

    1/30/2026Senate

Bill Text

  • Enacted

    4/14/2026

    PDF

  • Enrolled

    4/8/2026

    PDF

  • Third Reading

    3/3/2026

    PDF

  • First Reading

    1/30/2026

    PDF

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