Legislation - HB1238

Title: Taxation - Ultra-High-Net-Worth Individual Surtax and Wealth Tax
Sponsored by: Delegates Acevero, Amprey, Martinez, Roberson, Woods, and Young
Status: In the House - Hearing 3/05 at 1:00 p.m.
Analysis

Synopsis

Imposing a surtax on the Maryland taxable income of individuals with a net worth in excess of $1,000,000,000; providing for the calculation, administration, and enforcement of the surtax; imposing a one-time wealth tax on the amount by which the net worth of a Maryland resident exceeds a certain amount; providing for the calculation, administration, collection, and enforcement of the one-time wealth tax; etc.

Committees

Original:: Ways and Means

Details

Bill File Type: Regular

Effective Date(s): July 1, 2026

History

Legislation History
Chamber House Calendar Date 2/11/2026 Legislative Date 2/11/2026 Action First Reading Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Taxation - Ultra-High-Net-Worth Individual Surtax and Wealth Tax Proceedings
Chamber House Calendar Date 2/12/2026 Legislative Date 2/12/2026 Action Hearing 3/05 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	2/11/2026	2/11/2026	First Reading Ways and Means
			Text - First - Taxation - Ultra-High-Net-Worth Individual Surtax and Wealth Tax
House	2/12/2026	2/12/2026	Hearing 3/05 at 1:00 p.m.

File Code

Subjects

Statutes