SB0367 (CH0231)

Find a 2017 Bill:

2017 Regular Session



Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief

Sponsored by:

Senator Zucker


Approved by the Governor - Chapter 231

Synopsis:Allowing a subtraction modification under the Maryland income tax for income from the discharge of indebtedness related to acquiring, constructing, substantially improving, or refinancing a principal residence; providing that the subtraction does not apply to more than $100,000 for an individual and $200,000 for a married couple filing jointly or specified individuals; applying the Act to taxable years beginning after December 31, 2016, but before January 1, 2019; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Zucker, Peters, Edwards, Ferguson, Guzzone, King, Madaleno, Manno, and Serafini
Additional Facts:Cross-filed with: HB1155
Introduced in a prior session as: SB0596 Session: 2014 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2017
Budget and Taxation  View Committee HearingWays and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Debt Management
Income Tax
Statutes:Article - Tax - General
(10-205, 10-207)

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November 28, 2017 1:10 P.M.