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MD HB350
MD HB350Income Tax Subtraction Modification - Correctional Officers, Law Enforcement Officers, and Fire, Rescue, and Emergency Services Personnel (Hometown Heroes Act)
summary
Introduced
01/20/2020
01/20/2020
In Committee
01/20/2020
01/20/2020
Crossed Over
Passed
Dead
03/18/2020
03/18/2020
Introduced Session
2020 Regular Session
Bill Summary
Altering, from 55 years old to 50 years old, the age at which a resident is eligible for a subtraction modification under the Maryland income tax for retirement income attributable to certain employment; altering the amount of certain retirement income that may be included under a certain subtraction modification; applying the Act to taxable years beginning after December 31, 2019; etc.
AI Summary
This bill, known as the Hometown Heroes Act, alters the age and amount of retirement income eligible for a subtraction modification under the Maryland income tax. Specifically, it lowers the age requirement from 55 to 50 years old for retired correctional officers, law enforcement officers, and fire, rescue, and emergency services personnel. It also changes the amount of eligible retirement income that can be subtracted, increasing from the first $15,000 to 50% in 2020 and 100% in 2021 and beyond. The bill applies to taxable years beginning after December 31, 2019.
Committee Categories
Budget and Finance
Sponsors (35)
Adrienne Jones (D)*,
Chris Adams (R),
Carl Anderton (R),
Steve Arentz (R),
Lauren Arikan (R),
Jason Buckel (R),
Brian Chisholm (R),
Barrie Ciliberti (R),
Paul Corderman (R),
Dan Cox (R),
Mark Fisher (R),
Jeff Ghrist (R),
Mike Griffith (R),
Wayne Hartman (R),
Seth Howard (R),
Jay Jacobs (R),
Nic Kipke (R),
Trent Kittleman (R),
Susan Krebs (R),
Bob Long (R),
Michael Malone (R),
Nino Mangione (R),
Johnny Mautz (R),
Susan McComas (R),
Mike McKay (R),
Ric Metzgar (R),
Charles Otto (R),
Neil Parrott (R),
Jesse Pippy (R),
Teresa Reilly (R),
April Rose (R),
Sid Saab (R),
Haven Shoemaker (R),
Kathy Szeliga (R),
William Wivell (R),
Last Action
Hearing 2/14 at 1:00 p.m. (on 01/24/2020)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0350?ys=2020RS |
| BillText | http://mgaleg.maryland.gov/2020RS/bills/hb/hb0350f.pdf |
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