MD SB786 | 2020 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 3 2020 - 25% progression, died in committee
Action: 2020-02-18 - Hearing 3/11 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 3 2020 - 25% progression, died in committee
Action: 2020-02-18 - Hearing 3/11 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Altering a limitation on claiming the income tax credit for eligible long-term care insurance premiums for more than 1 year with respect to the same insured individual; altering the amount of the credit from a one-time $500 credit to a maximum of $250 for a taxable year beginning after December 31, 2020, but before January 1, 2023, and a maximum of $500 for a taxable year beginning after December 31, 2022; and applying the Act to all taxable years beginning after December 31, 2020.
Title
Income Tax - Credit for Long-Term Care Premiums
Sponsors
History
Date | Chamber | Action |
---|---|---|
2020-02-18 | Senate | Hearing 3/11 at 1:00 p.m. |
2020-02-03 | Senate | First Reading Budget and Taxation |
Same As/Similar To
HB1365 (Crossfiled) 2020-02-10 - Hearing 3/05 at 1:00 p.m.
Subjects
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
Tax - General | 10 | 718 | (n/a) | See Bill Text |
Maryland State Sources
Type | Source |
---|---|
Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0786?ys=2020RS |
Text | https://mgaleg.maryland.gov/2020RS/bills/sb/sb0786f.pdf |