Legislation

Title: Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts
Sponsored by: Senators Manno, Feldman, Guzzone, Young, Peters, Madaleno, and Muse
Status: In the House - Hearing 3/28 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Allowing a subtraction modification under the Maryland income tax for contributions to a certain first-time homebuyer savings account during a taxable year and certain earnings on the account; providing that an account holder may claim the subtraction modification under certain circumstances; providing that transfers of money to or from the account are subject to certain requirements and limitations; applying the Act to all taxable years beginning after December 31, 2017; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means Click to view Recorded Media

Details

Cross-filed with: HB0463

Bill File Type: Regular

Effective Date(s): July 1, 2018

History

Legislation History
Chamber Senate Calendar Date 2/05/2018 Legislative Date 2/05/2018 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/07/2018 Legislative Date 2/07/2018 Action Hearing 3/13 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/16/2018 Legislative Date 3/16/2018 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/16/2018 Legislative Date 3/16/2018 Action Favorable with Amendments {459139/1 Adopted Proceedings 48AClick to view Recorded Media
Chamber Senate Calendar Date 3/16/2018 Legislative Date 3/16/2018 Action Second Reading Passed with Amendments Proceedings 48AClick to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts Proceedings
Chamber Senate Calendar Date 3/19/2018 Legislative Date 3/17/2018 Action Third Reading Passed (47-0) Proceedings 48CClick to view Recorded Media
Chamber House Calendar Date 3/20/2018 Legislative Date 3/16/2018 Action Referred Ways and Means Proceedings 50 Click to view Recorded Media
Chamber House Calendar Date 3/22/2018 Legislative Date 3/22/2018 Action Hearing 3/28 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	2/05/2018	2/05/2018	First Reading Budget and Taxation
Senate	2/07/2018	2/07/2018	Hearing 3/13 at 1:00 p.m.
			Text - First - Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	3/16/2018	3/16/2018	Favorable with Amendments Report by Budget and Taxation
Senate	3/16/2018	3/16/2018	Favorable with Amendments {459139/1 Adopted	48AClick to view Recorded Media
Senate	3/16/2018	3/16/2018	Second Reading Passed with Amendments	48AClick to view Recorded Media
			Text - Third - Income Tax - Subtraction Modification - First-Time Homebuyer Savings Accounts
Senate	3/19/2018	3/17/2018	Third Reading Passed (47-0)	48CClick to view Recorded Media
House	3/20/2018	3/16/2018	Referred Ways and Means	50 Click to view Recorded Media
House	3/22/2018	3/22/2018	Hearing 3/28 at 1:00 p.m.

File Code

Subjects

Statutes