2005 Regular Session

HOUSE BILL 1247

File Code: Taxes - Income
Sponsored By:
Delegates Montgomery, Barve, Bobo, Boteler, Cane, Holmes, Lee, Taylor, and Weir
Entitled:
Income Tax - Military Service Retirement Tax Relief Act

Synopsis:

Increasing from $2,500 to $7,500 the maximum subtraction modification allowed under the State income tax for military retirement income; increasing from $17,500 to $30,000 the income threshold at which the subtraction modification begins to phase out; and repealing tax credits allowed to public service companies, electricity suppliers, and cogenerators for the purchase of Maryland-mined coal.

History by Legislative Date

House Action
2/11
First Reading Ways and Means
2/15
Hearing 2/22 at 1:00 p.m.
4/11
Unfavorable Report by Ways and Means
Senate Action
No Action

Sponsored by:

Delegate Karen S. Montgomery, District 14
Delegate Kumar P. Barve, District 17
Delegate Elizabeth Bobo, District 12B
Delegate Joseph C. Boteler, III, District 8
Delegate Rudolph C. Cane, District 37A
Delegate Marvin E. Holmes, Jr., District 23B
Delegate Susan C. Lee, District 16
Delegate Herman L. Taylor, Jr., District 14
Delegate Michael H. Weir, Jr., District 6

Bill indexed under the following Subjects:

ARMED FORCES -see also- MILITIA
COAL
EXEMPTIONS
FRANCHISES
INCOME TAX
MINING
RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
TAX CREDITS -see also- CIRCUIT BREAKER
UTILITIES -see also- HIGH VOLTAGE LINES; TELEPHONES; WATER

Bill affects the following Statutes:

Tax - General
( 8-406 , 10-207 , 10-207 , 10-209 , 10-704.1 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered