HOUSE BILL 558

File Code: Income

Sponsored By:

Delegates Cryor, Baldwin, Benson, Burns, Conroy, Conway, DeCarlo, Dembrow, Dypski, Eckardt, Heller, Howard, Kagan, La Vay, Marriott, Pitkin, Shank, and Walkup

Entitled:

Income Tax - Credit for Retired Teachers Working as Teachers at an Entry Level Salary

Synopsis:

Allowing retired teachers working as teachers after retirement to claim a credit against the State income tax for a portion of the difference between the amount paid to the retired teacher as a retirement allowance and the salary paid to the retired teacher; limiting the credit to 80% of the difference for the first taxable year and 60% of the difference for the succeeding 4 taxable years; and providing for the application of the Act.

History by Legislative Date

House Action

2/11

First Reading Ways and Means

2/24

Hearing 3/18 at 1:00 p.m.

Senate Action

No Action

Sponsored by:

Delegate Jean B. Cryor, District 15

Delegate Robert C. Baldwin, District 33

Delegate Joanne C. Benson, District 24

Delegate Emmett C. Burns, Jr., District 10

Delegate Mary A. Conroy, District 23

Delegate Norman H. Conway, District 38

Delegate Diane DeCarlo, District 6

Delegate Dana Lee Dembrow, District 20

Delegate Cornell N. Dypski, District 46

Delegate Adelaide C. Eckardt, District 37B

Delegate Henry B. Heller, District 19

Delegate Carolyn J. B. Howard, District 24

Delegate Cheryl C. Kagan, District 17

Delegate Richard La Vay, District 15

Delegate Salima Siler Marriott, District 40

Delegate Joan B. Pitkin, District 23

Delegate Christopher B. Shank, District 2B

Delegate Mary Roe Walkup, District 36

Bill indexed under the following Subjects:

INCOME TAX

RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT

TAX CREDITS -see also- CIRCUIT BREAKER

TEACHERS

Bill affects the following Statute:

Tax - General

( 10-712 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered