Bill
Bill > HB100
summary
Introduced
01/10/2024
01/10/2024
In Committee
03/14/2024
03/14/2024
Crossed Over
03/13/2024
03/13/2024
Passed
Dead
04/08/2024
04/08/2024
Introduced Session
2024 Regular Session
Bill Summary
Requiring a certain register of wills to allow an installment payment plan for the inheritance tax to be paid by a certain beneficiary of limited means under certain circumstances and subject to certain limitations.
AI Summary
This bill allows a register of wills to establish an installment payment plan for the inheritance tax to be paid by a beneficiary of limited means, defined as an individual with a federal adjusted gross income under $125,000 (or $250,000 for spouses filing jointly), if paying the tax in full would require the sale of the primary residence or agricultural land that the beneficiary intends to maintain. The beneficiary must apply for the installment plan, and the register will specify the payment schedule and amounts. This applies to decedents dying on or after July 1, 2024.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Budget and Taxation Hearing (12:00:00 3/26/2024 ) (on 03/26/2024)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0100?ys=2024RS |
| BillText | https://mgaleg.maryland.gov/2024RS/bills/hb/hb0100t.pdf |
| Favorable with Amendments 173828/1 Adopted | https://mgaleg.maryland.gov/2024RS/amds/bil_0000/hb0100_17382801.pdf |
| Vote Image | https://mgaleg.maryland.gov/2024RS/votes_comm/hb0100_w&m.pdf |
| BillText | https://mgaleg.maryland.gov/2024RS/bills/hb/hb0100f.pdf |
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