SB0372

Find a 2015 Bill:

2015 Regular Session

 

Entitled:

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

Sponsored by:

Senator Feldman

Status:

In the Senate - Hearing 3/11 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, 2014; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Feldman, Astle, Currie, DeGrange, Eckardt, Guzzone, Hough, Jennings, King, Manno, McFadden, Peters, Raskin, Rosapepe, and Waugh
Additional Facts:Cross-filed with: HB0953
Bill File Type: Regular
Effective Date(s): July 1, 2015
Committee(s):
Budget and Taxation  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Comptroller
Exemptions
Financial Institutions -see also- Banks; Credit Unions; etc.
Income Tax
Interest
Penalties and Sentences -see also- Death Penalty
Real Property
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 20, 2015 7:24 P.M.