Bill
Bill > SB137
summary
Introduced
01/14/2026
01/14/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Altering exemptions from the personal property tax for business personal property that has a total original cost below $20,000 by repealing provisions of law that prohibit the State Department of Assessments and Taxation from collecting information or requiring the submission of a personal property tax return from certain businesses that qualify for the exemptions; and applying the Act to all taxable years beginning after June 30, 2026.
AI Summary
This bill alters existing Maryland law regarding personal property tax exemptions for individuals with low-value business assets. Specifically, it removes provisions that previously exempted personal property used in a business located at an individual's principal residence if the total original cost of that property, excluding vehicles, was less than $20,000. The bill also removes the corresponding stipulations that the Department of Assessments and Taxation (the "Department") could not collect personal property information or require tax returns from individuals attesting to owning less than $20,000 in personal property. The changes are set to take effect on June 1, 2026, and apply to taxable years beginning after June 30, 2026.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Budget and Taxation (Senate)
Last Action
Senate Budget and Taxation Hearing (10:00:00 1/21/2026 ) (on 01/21/2026)
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/SB0137?ys=2026RS |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/sb/sb0137f.pdf |
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