HB0230

Find a 2017 Bill:

2017 Regular Session

 

Entitled:

Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts

Sponsored by:

Delegate Morales

Status:

In the House - Hearing 2/08 at 1:00 p.m.


Synopsis:Allowing a subtraction modification under the Maryland income tax for contributions to a specified first-time homebuyer savings account during a taxable year and specified earnings on the account; providing that an account holder may claim the subtraction modification under specified circumstances; providing that transfers of money to or from the account are subject to specified requirements and limitations; applying the Act to all taxable years beginning after December 31, 2016; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Delegates Morales, Angel, D. Barnes, Ebersole, Fennell, Hill, C. Howard, Korman, Luedtke, Queen, Tarlau, Turner, A. Washington, and M. Washington
Additional Facts:Bill File Type: Regular
Effective Date(s): July 1, 2017
Committee(s):
Ways and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Comptroller
Exemptions
Financial Institutions -see also- Banks; Credit Unions; etc.
Income Tax
Investments -see also- Securities
Records -see also- Land Records; Vital Records
Rules and Regulations
Statutes:Article - Tax - General
(10-208)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


November 28, 2017 12:58 P.M.