MD SB278 | 2020 | Regular Session

Note: Carry Foward to future SB572

Status

Spectrum: Moderate Partisan Bill (Republican 13-3)
Status: Introduced on January 20 2020 - 25% progression, died in committee
Action: 2020-01-28 - Hearing 2/05 at 2:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Allowing a subtraction modification under the Maryland income tax for up to $100,000 of income each year for individuals who are receiving certain benefits under the Social Security Act, or who are at least 65 years old and are not employed full-time; establishing certain limits on the subtraction modification for certain taxable years; prohibiting income included in certain subtraction modifications from being included under the subtraction modification; etc.

Tracking Information

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Title

Retirement Tax Reduction Act of 2020

Sponsors


History

DateChamberAction
2020-01-28SenateHearing 2/05 at 2:00 p.m.
2020-01-28SenateHearing canceled
2020-01-21SenateHearing 2/05 at 1:00 p.m.
2020-01-20SenateFirst Reading Budget and Taxation

Same As/Similar To

SB278 (Carry Over) 2020-01-28 - Hearing 2/05 at 2:00 p.m.
HB342 (Crossfiled) 2020-01-24 - Hearing 2/14 at 1:00 p.m.

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
Tax - General10207(n/a)See Bill Text
Tax - General10209(n/a)See Bill Text

Maryland State Sources


Bill Comments

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