Bill > SB660

This bill allows certain caregivers a credit against their Maryland state income tax equal to 30% of the qualified expenses they paid or incurred to provide care or support to certain qualifying family members. To be eligible, the caregiver's federal adjusted gross income must not exceed $75,000 for an individual or $150,000 for a joint tax return. The credit is limited to the lesser of $5,000 or the state income tax imposed for that taxable year, and the unused amount cannot be carried over to other years. The bill defines key terms like "caregiver," "qualified expenses," and "qualified family member," and authorizes the Comptroller to adopt regulations to implement the provisions. The bill takes effect on July 1, 2022 and applies to all taxable years beginning after December 31, 2021.