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Bill > HB626


MD HB626

MD HB626
Income Tax - Subtraction Modification - Public Safety Volunteers


summary

Introduced
01/25/2024
In Committee
01/25/2024
Crossed Over
Passed
Dead
04/08/2024

Introduced Session

2024 Regular Session

Bill Summary

Increasing, from $7,000 to $10,000, the amount of a subtraction modification under the Maryland income tax for an individual who is a qualifying public safety volunteer for a taxable year beginning after December 31, 2024; requiring each police agency to maintain certain records of the activities of each member of a police auxiliary or reserve, provide each member with a certain report on the preceding calendar year, and provide a certain report and certification that an individual qualified for the subtraction modification; etc.

AI Summary

This bill increases the amount of the Maryland income tax subtraction modification for qualifying public safety volunteers from $7,000 to $10,000 for taxable years beginning after December 31, 2024. It also requires police agencies to maintain records of the activities of police auxiliary or reserve members, provide members with a report on their qualification status, and submit a report to the state and Comptroller's office certifying which individuals qualified for the subtraction modification. The bill also establishes similar reporting requirements for fire, rescue, and emergency medical services organizations, as well as the United States Coast Guard Auxiliary, Maryland Defense Force, and Maryland Civil Air Patrol.

Committee Categories

Budget and Finance

Sponsors (10)

Last Action

House Ways and Means Hearing (13:00:00 2/15/2024 ) (on 02/15/2024)

Taxonomy

Law, Crime, and Family Issues
  • ‐ Police, Fire, and Law Enforcement
Macroeconomics
  • ‐ Taxation, Tax Policy, and Tax Reform

bill text


bill summary

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bill summary

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bill summary

Document Type Source Location Created
State Bill Page https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0626?ys=2024RS 01/25/2024
BillText https://mgaleg.maryland.gov/2024RS/bills/hb/hb0626f.pdf 01/25/2024
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