Bill
Bill > HB690
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/02/2026
02/02/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Decreasing, over 4 taxable years, the State corporate income tax rate from 8.25% to 6.25%.
AI Summary
This bill, titled the "Economic Competitiveness Act of 2026," proposes to gradually reduce Maryland's corporate income tax rate from its current 8.25% to 6.25% over a period of four taxable years, starting with tax years beginning after December 31, 2025. Specifically, the rate will decrease incrementally each year: to 7.75% for tax years beginning after December 31, 2026, then to 7.25% for tax years beginning after December 31, 2027, followed by 6.75% for tax years beginning after December 31, 2028, and finally reaching 6.25% for tax years beginning after December 31, 2029. This change aims to make the state more economically competitive by lowering the tax burden on corporations. The Act is scheduled to take effect on July 1, 2026.
Committee Categories
Budget and Finance
Sponsors (27)
Wayne Hartman (R)*,
Chris Adams (R),
Kevin Anderson (R),
Steve Arentz (R),
Lauren Arikan (R),
Terry Baker (R),
Barry Beauchamp (R),
Jason Buckel (R),
Brian Chisholm (R),
Barrie Ciliberti (R),
April Fleming Miller (R),
Robin Grammer (R),
Mike Griffith (R),
Kevin Hornberger (R),
Jay Jacobs (R),
Nino Mangione (R),
Ric Metzgar (R),
Todd Morgan (R),
LaToya Nkongolo (R),
Jesse Pippy (R),
Teresa Reilly (R),
April Rose (R),
Stuart Schmidt (R),
Josh Stonko (R),
Kathy Szeliga (R),
Chris Tomlinson (R),
William Valentine (R),
Last Action
House Ways and Means Hearing (13:00:00 2/19/2026 ) (on 02/19/2026)
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/HB0690?ys=2026RS |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/hb/hb0690f.pdf |
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