Legislation
- Title
- Income Tax - Retirement Income Subtraction Modifications and Senior Credit (Retirement Tax Elimination Act of 2022)
- Sponsored by
- The President (By Request - Administration) and Senators Bailey, Carozza, Cassilly, Corderman, Eckardt, Edwards, Elfreth, Hershey, Hester, Jennings, Ready, Salling, Simonaire, West, Griffith, Guzzone, Jackson, King, McCray, Rosapepe, Young, and Zucker
- Status
- Approved by the Governor - Chapter 4
- Analysis
- Fiscal and Policy Note (Revised)
Synopsis
Allowing a subtraction modification under the Maryland income tax for individuals who are at least 55 years of age for certain retirement income attributable to the individual's employment as a public safety employee; providing that retirement income of public safety employees that is included in the subtraction may not be taken into account for purposes of a subtraction modification under the Maryland income tax for certain retirement income; providing a tax credit against the Maryland income tax for a resident who is at least 65 years old; etc.
Committees
- Opposite:
- Ways and Means
Committee Testimony
Details
Cross-filed with: HB0420
Bill File Type: Regular
Effective Date(s): July 1, 2022
By Request of the Governor
History
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File Code
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Subjects
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Statutes
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(
10-207, 10-209, 10-754 )
Last Updated: 7/27/2022 2:51 PM