SENATE BILL 152

Sponsored By:

Senator Stone

Entitled:

Income Tax - Subtraction Modification for Retirement Income - Rollovers to Individual Retirement Accounts

Synopsis:

Including income from a rollover individual retirement account (IRA) or annuity established in the Internal Revenue Code within the subtraction modification allowed under the Maryland income tax for retirement income from an employee retirement system if contributions to the rollover IRA or annuity consist entirely of the tax-free rollover of distributions from an employee retirement system resulting from a mandatory withdrawal of amounts in the employee retirement system; etc.

History by Legislative Date

Senate Action

1/18

First Reading Budget and Taxation

Hearing 1/31 at 1:30 p.m.

2/26

Favorable with Amendments Report by Budget and Taxation

2/28

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/5

Third Reading Passed (47-0)

House Action

3/6

First Reading Ways and Means

3/14

Hearing 3/28 at 1:00 p.m.

Bill indexed under the following Subjects:

DISABILITIES -see also- BLIND; DEAF; DEVELOPMENTAL

ELDERLY PERSONS

EXEMPTIONS

INCOME TAX

RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT

Bill affects the following Statute:

Tax - General

( 10-209 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 469935/1 (PDF)     Offered on: February 28, 2001   at: 11:10 a.m.     Status: Adopted

Roll Call Vote (Legislative date is shown):

Senate

March 5, 2001: Third Reading Passed (47-0)