Legislation

Title: Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief
Sponsored by: Senators Zucker, Peters, Edwards, Ferguson, Guzzone, King, Madaleno, Manno, and Serafini
Status: Approved by the Governor - Chapter 231
Analysis: Fiscal and Policy Note

Synopsis

Allowing a subtraction modification under the Maryland income tax for income from the discharge of indebtedness related to acquiring, constructing, substantially improving, or refinancing a principal residence; providing that the subtraction does not apply to more than $100,000 for an individual and $200,000 for a married couple filing jointly or specified individuals; applying the Act to taxable years beginning after December 31, 2016, but before January 1, 2019; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means Click to view Recorded Media

Details

Cross-filed with: HB1155

Introduced in a prior session as: SB0596 Session: 2014 Regular Session

Bill File Type: Regular

Effective Date(s): July 1, 2017

History

Legislation History
Chamber Senate Calendar Date 1/26/2017 Legislative Date 1/26/2017 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief Proceedings
Chamber Senate Calendar Date 2/01/2017 Legislative Date 2/01/2017 Action Hearing 2/22 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 2/27/2017 Legislative Date 2/27/2017 Action Favorable Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/01/2017 Legislative Date 3/01/2017 Action Favorable Adopted Second Reading Passed Proceedings 34 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief Proceedings
Chamber Senate Calendar Date 3/03/2017 Legislative Date 3/03/2017 Action Third Reading Passed (46-0) Proceedings 36 Click to view Recorded Media
Chamber House Calendar Date 3/06/2017 Legislative Date 3/06/2017 Action Referred Ways and Means Proceedings 39 Click to view Recorded Media
Chamber House Calendar Date 3/07/2017 Legislative Date 3/07/2017 Action Hearing 3/22 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Ways and Means Proceedings Click to view Recorded Media
Chamber House Calendar Date 4/05/2017 Legislative Date 4/05/2017 Action Favorable Report by Ways and Means Proceedings
Chamber House Calendar Date 4/05/2017 Legislative Date 3/29/2017 Action Favorable Adopted Second Reading Passed Proceedings 63 Click to view Recorded Media
Chamber House Calendar Date 4/06/2017 Legislative Date 3/30/2017 Action Third Reading Passed (140-0) Proceedings 64 Click to view Recorded Media
Chamber Senate Calendar Date 4/07/2017 Legislative Date 4/01/2017 Action Returned Passed Proceedings 61 Click to view Recorded Media
Chamber Post Passage Calendar Date 4/18/2017 Legislative Date 4/18/2017 Action Approved by the Governor - Chapter 231 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	1/26/2017	1/26/2017	First Reading Budget and Taxation
			Text - First - Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief
Senate	2/01/2017	2/01/2017	Hearing 2/22 at 1:00 p.m.
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	2/27/2017	2/27/2017	Favorable Report by Budget and Taxation
Senate	3/01/2017	3/01/2017	Favorable Adopted Second Reading Passed	34 Click to view Recorded Media
			Text - Third - Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief
Senate	3/03/2017	3/03/2017	Third Reading Passed (46-0)	36 Click to view Recorded Media
House	3/06/2017	3/06/2017	Referred Ways and Means	39 Click to view Recorded Media
House	3/07/2017	3/07/2017	Hearing 3/22 at 1:00 p.m.
			Vote - House - Committee - Ways and Means	Click to view Recorded Media
House	4/05/2017	4/05/2017	Favorable Report by Ways and Means
House	4/05/2017	3/29/2017	Favorable Adopted Second Reading Passed	63 Click to view Recorded Media
House	4/06/2017	3/30/2017	Third Reading Passed (140-0)	64 Click to view Recorded Media
Senate	4/07/2017	4/01/2017	Returned Passed	61 Click to view Recorded Media
Post Passage	4/18/2017	4/18/2017	Approved by the Governor - Chapter 231
			Text - Chapter - Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief

File Code

Subjects

Statutes