Passed BothConf. Cmte
- Retirement Tax Reduction Act of 2020
- Sponsored by
- The President (By Request - Administration) and Senators Bailey, Beidle, Carozza, Cassilly, Eckardt, Edwards, Elfreth, Gallion, Hershey, Jennings, Ready, Salling, Serafini, Simonaire, and West
- In the Senate - Hearing 2/05 at 2:00 p.m.
- Fiscal and Policy Note
Allowing a subtraction modification under the Maryland income tax for up to $100,000 of income each year for individuals who are receiving certain benefits under the Social Security Act, or who are at least 65 years old and are not employed full-time; establishing certain limits on the subtraction modification for certain taxable years; prohibiting income included in certain subtraction modifications from being included under the subtraction modification; etc.
Bill File Type: Regular
Effective Date(s): July 1, 2020
By Request of the Governor
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( 10-207, 10-209 )
Last Updated: 9/22/2020 2:58 PM