MD HB1178 | 2021 | Regular Session
Note: Carry Over of previous HB463
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on May 30 2021 - 100% progression
Action: 2021-05-30 - Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 512
Text: Latest bill text (Chaptered) [PDF]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on May 30 2021 - 100% progression
Action: 2021-05-30 - Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 512
Text: Latest bill text (Chaptered) [PDF]
Summary
Allowing a subtraction modification under the Maryland income tax for contributions to a certain first-time homebuyer savings account during a taxable year and certain earnings on the account; providing that an account holder may claim the subtraction modification under certain circumstances; providing that transfers of money to or from the account are subject to certain requirements and limitations; applying the Act to all taxable years beginning after December 31, 2020; etc.
Title
Income Tax – Subtraction Modification – First–Time Homebuyer Savings Accounts
Sponsors
Roll Calls
2021-04-06 - Senate - Third Reading Passed (Y: 47 N: 0 NV: 0 Abs: 0) [PASS]
2021-03-22 - House - Third Reading Passed (Y: 135 N: 0 NV: 1 Abs: 5) [PASS]
2021-03-22 - House - Third Reading Passed (Y: 135 N: 0 NV: 1 Abs: 5) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2021-05-30 | House | Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 512 |
| 2021-04-06 | House | Returned Passed |
| 2021-04-06 | Senate | Third Reading Passed (47-0) |
| 2021-04-05 | Senate | Second Reading Passed |
| 2021-04-05 | Senate | Favorable Adopted |
| 2021-04-02 | Senate | Favorable Report by Budget and Taxation |
| 2021-03-23 | Senate | Hearing 3/30 at 1:00 p.m. |
| 2021-03-22 | Senate | Referred Budget and Taxation |
| 2021-03-22 | House | Third Reading Passed (135-0) |
| 2021-03-20 | House | Second Reading Passed with Amendments |
| 2021-03-20 | House | Favorable with Amendments {525169/1 Adopted |
| 2021-03-20 | House | Favorable with Amendments Report by Ways and Means |
| 2021-02-09 | House | Hearing 3/11 at 1:30 p.m. |
| 2021-02-08 | House | First Reading Ways and Means |
Same As/Similar To
HB463 (Carry Over) 2018-02-14 - Hearing 2/14 at 1:00 p.m.
Subjects
Bankruptcy
Comptroller
Exemptions
Financial Institutions
Fines
Housing
Housing and Community Development, Department of
Income Tax
Penalties and Sentences
Records
Rules and Regulations
Taxes - Income
Time
Comptroller
Exemptions
Financial Institutions
Fines
Housing
Housing and Community Development, Department of
Income Tax
Penalties and Sentences
Records
Rules and Regulations
Taxes - Income
Time
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 208 | (n/a) | See Bill Text |
