Legislation

Title: Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts
Sponsored by: Senators Feldman, Astle, Currie, DeGrange, Eckardt, Guzzone, Hough, Jennings, King, Manno, McFadden, Peters, Raskin, Rosapepe, and Waugh
Status: In the Senate - Hearing 3/11 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Allowing a subtraction modification under the Maryland income tax for contributions to a specified first-time homebuyer savings account during a taxable year and specified earnings on the account; providing that an account holder may claim the subtraction modification under specified circumstances; providing that transfers of money to or from the account are subject to specified requirements and limitations; applying the Act to all taxable years beginning after December 31, 2014; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Details

Cross-filed with: HB0953

Bill File Type: Regular

Effective Date(s): July 1, 2015

History

Legislation History
Chamber Senate Calendar Date 2/05/2015 Legislative Date 2/06/2015 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/18/2015 Legislative Date 2/18/2015 Action Hearing 3/11 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	2/05/2015	2/06/2015	First Reading Budget and Taxation
Senate	2/18/2015	2/18/2015	Hearing 3/11 at 1:00 p.m.

Documents

Date Posted	Document Name
2/06/2015	Text - First - Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts

File Code

Subjects

Statutes