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SB0972
Find a 2018 Bill:
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2018 Regular Session
Entitled:
Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts
Sponsored by:
Senator Manno
Status:
In the House - Hearing 3/28 at 1:00 p.m.
Summary
Documents
History
Synopsis:
Allowing a subtraction modification under the Maryland income tax for contributions to a certain first-time homebuyer savings account during a taxable year and certain earnings on the account; providing that an account holder may claim the subtraction modification under certain circumstances; providing that transfers of money to or from the account are subject to certain requirements and limitations; applying the Act to all taxable years beginning after December 31, 2017; etc.
Analysis:
Fiscal and Policy Note
All Sponsors:
Senators
Manno
,
Feldman
,
Guzzone
,
Young
,
Peters
,
Madaleno
, and
Muse
Additional Facts:
Cross-filed with:
HB0463
Bill File Type: Regular
Effective Date(s): July 1, 2018
Committee(s):
Budget and Taxation
  
Ways and Means
  
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
March 29, 2018 10:07 A.M.