MD SB870 | 2021 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 9 2021 - 25% progression, died in committee
Action: 2021-02-11 - Hearing 3/03 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 9 2021 - 25% progression, died in committee
Action: 2021-02-11 - Hearing 3/03 at 1:00 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 taxable years 2020, 2021, and 2022 for income that is the result of certain COVID-19-related distributions of retirement income during certain taxable years; prohibiting the subtraction from exceeding $100,000 in a taxable year; etc.
Title
Income Tax - Subtraction Modification - COVID-19-Related Distribution of Retirement Income
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-02-11 | Senate | Hearing 3/03 at 1:00 p.m. |
| 2021-02-09 | Senate | First Reading Budget and Taxation |
Same As/Similar To
HB1177 (Crossfiled) 2021-02-09 - Hearing 3/04 at 1:30 p.m.
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 207 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0870?ys=2021RS |
| Text | https://mgaleg.maryland.gov/2021RS/bills/sb/sb0870f.pdf |
