O'Malley To Support Offshore Wind Energy, Reduced Estate Tax | WAMU 88.5 - American University Radio

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O'Malley To Support Offshore Wind Energy, Reduced Estate Tax

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Same-sex marriage legislation passed the Maryland Senate this year, and O'Malley said he would sign it if it reached his desk.
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Same-sex marriage legislation passed the Maryland Senate this year, and O'Malley said he would sign it if it reached his desk.

O'Malley will urge lawmakers to support a bill to to require Maryland utilities to sign multi-decade contracts to buy offshore wind energy. The measure would make the state's four utilities sign fixed-price contracts of at least 20 years with offshore wind developers who are expected to build wind turbines a dozen miles off the coast of Ocean City. The wind turbines would take at least five years to develop.

The governor will also outline his support for a bill that would reduce Maryland's estate tax for family farms. The measure would exclude $5 million of the value of qualified agricultural property from the estate tax, and also would make sure the tax did not exceed 5 percent on amounts that exceed $5 million. Now, families pay 16 percent estate tax on property valued at more than $1 million.

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