Emergency Economic Relief from Governor Hogan

The State of Maryland has already announced $500 million in emergency economic relief. While stimulus negotiations in Congress remain gridlocked, the Governor announced the following additional measures to help Marylanders weather this crisis:
Emergency Tax Relief: The Governor has issued an executive order to prevent small businesses from facing major increases in their unemployment taxes. An employer’s 2021 tax rate will be calculated based on their non-pandemic experience by excluding the 2020 fiscal year, and instead by using the last three fiscal years of 2017, 2018, and 2019. This order will provide relief for businesses already operating on razor-thin margins, and help keep more people on their payrolls.  Read the executive order and the Maryland Department of Labor press release.
Loan Forgiveness: To provide additional economic relief, the Governor has directed the Department of Commerce to forgive the $75 million in emergency loans that the state provided to businesses during the first round of economic relief in March and convert them all to grants.
$37 million for affordable housing: The State of Maryland anticipates providing nearly $25 million to finance approximately 2,000 units of low-income housing—a new record. The Governor also announced that he is releasing an additional $12 million to the Rental Housing Works program to spur more construction and more jobs across the state.

Diabetes treatment and prevention initiative:
 The Governor announced the commitment of $94 million in new investments across Maryland to help people with pre-diabetes and diabetes prevent or manage their disease during the COVID-19 pandemic.

Victim and youth services, law enforcement: The Governor announced $10 million in federal funding to support virtual and multijurisdictional initiatives for law enforcement, youth services, and victim services. A portion of the funding will be allocated to a new initiative, the COVID-19 Safe Futures Collaborative, which will provide emergency assistance to victims of crime and connect them with the services they need.

Chamber Chats
Special Offer