Legislation

Title: Rental Housing Fund, Calculation of Taxable Income, and Transfer Tax - Alterations (Affordable Housing Investment Act)
Sponsored by: Delegates Palakovich Carr, Lehman, Charkoudian, Ebersole, Fair, Feldmark, Grossman, R. Lewis, J. Long, Lopez, Moon, Ruth, Smith, Stewart, Taveras, Terrasa, Washington, Wells, and Wilkins
Status: In the House - Hearing 2/09 at 1:00 p.m.
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Requiring the Governor, beginning in fiscal year 2025, to include in the annual budget bill $20,000,000 for the Rental Housing Fund; requiring certain taxpayers to add a certain deduction back to federal adjusted gross income to determine Maryland taxable income; altering the rate of the transfer tax on certain residential real property; and requiring taxpayers who itemize deductions on a State income tax return to reduce the amount of the deductions by the amount of certain qualified residence interest paid or accrued during the taxable year.

Committees

Original:: Ways and Means Click to view Recorded Media

Committee Testimony

Witness List

Details

Bill File Type: Regular

Effective Date(s): July 1, 2023, January 1, 2024

Bill imposes a mandated appropriation in the annual State Budget Bill

History

Legislation History
Chamber House Calendar Date 1/20/2023 Legislative Date 1/20/2023 Action First Reading Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Rental Housing Fund, Calculation of Taxable Income, and Transfer Tax - Alterations (Affordable Housing Investment Act) Proceedings
Chamber House Calendar Date 1/23/2023 Legislative Date 1/23/2023 Action Hearing 2/09 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	1/20/2023	1/20/2023	First Reading Ways and Means
			Text - First - Rental Housing Fund, Calculation of Taxable Income, and Transfer Tax - Alterations (Affordable Housing Investment Act)
House	1/23/2023	1/23/2023	Hearing 2/09 at 1:00 p.m.

File Code

Subjects

Statutes