MD SB340 | 2024 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 12 2024 - 25% progression
Action: 2024-01-13 - Hearing 1/24 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 12 2024 - 25% progression
Action: 2024-01-13 - Hearing 1/24 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Authorizing Baltimore City, a county, or a municipal corporation to grant the property tax credit to offset increases in local income tax revenues to the owner-occupied property of a homeowner for taxable years beginning after June 30, 2022, but before July 1, 2025, whether or not the homeowner has an application for the homestead property tax credit on file with the State Department of Assessments and Taxation, notwithstanding a certain provision of law.
Title
Property Tax - Credit to Offset Increases in Local Tax Revenue
Sponsors
| Sen. Nancy King [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-13 | Senate | Hearing 1/24 at 1:00 p.m. |
| 2024-01-12 | Senate | First Reading Budget and Taxation |
Same As/Similar To
HB1454 (Crossfiled) 2024-02-09 - Hearing 2/27 at 1:00 p.m.
Subjects
Baltimore City
Counties
Homestead Property Tax Credit
Laws and Ordinances
Municipal Corporations
Property Tax
Residential Property
Revenue and Taxes
Tax Credits
Taxes - Property
Counties
Homestead Property Tax Credit
Laws and Ordinances
Municipal Corporations
Property Tax
Residential Property
Revenue and Taxes
Tax Credits
Taxes - Property
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - Property | 9 | 221 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0340?ys=2024RS |
| Text | https://mgaleg.maryland.gov/2024RS/bills/sb/sb0340f.pdf |
