Legislation - SB0346

Title: Income Tax - Subtraction Modification - Military Retirement Income (Keep Our Heroes Home Act)
Sponsored by: Senators Elfreth, Bailey, Beidle, Brooks, Carozza, Charles, Feldman, Folden, Gallion, James, King, Klausmeier, Kramer, Lam, McKay, Muse, Ready, Salling, Simonaire, and West
Status: In the Senate - Hearing 1/24 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Phasing in, over a period of 3 years, an increase in a subtraction modification under the Maryland income tax to allow for a subtraction of all military retirement income beginning in taxable year 2026.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Committee Testimony

Witness List

Details

Bill File Type: Regular

Effective Date(s): July 1, 2024

History

Legislation History
Chamber Senate Calendar Date 1/15/2024 Legislative Date 1/15/2024 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax - Subtraction Modification - Military Retirement Income (Keep Our Heroes Home Act) Proceedings
Chamber Senate Calendar Date 1/18/2024 Legislative Date 1/18/2024 Action Hearing 1/24 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	1/15/2024	1/15/2024	First Reading Budget and Taxation
			Text - First - Income Tax - Subtraction Modification - Military Retirement Income (Keep Our Heroes Home Act)
Senate	1/18/2024	1/18/2024	Hearing 1/24 at 1:00 p.m.

File Code

Subjects

Statutes