SENATE BILL 163

Sponsored By:

Senators Astle, Colburn, DeGrange, Dorman, Dyson, Ferguson, Green, Hafer, Haines, Harris, Hooper, Jacobs, Mooney, Neall, Roesser, Sfikas, Stone, Teitelbaum, and Kittleman

Entitled:

Income Tax - Subtraction Modification - Military Retirement Income

Synopsis:

Increasing the amount of the subtraction modification under the Maryland income tax for military retirement income to 100% of the military retirement income received in a taxable year; removing requirements that the individual be at least 55 years old and have been an enlisted member at the time of retirement; removing income restrictions on the subtraction; applying the Act to taxable years beginning after December 31, 2001; etc.

History by Legislative Date

Senate Action

1/16

First Reading Budget and Taxation

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

2/18

Unfavorable Report by Budget and Taxation

House Action

No Action

Sponsored by:

Senator John C. Astle, District 30

Senator Richard F. Colburn, District 37

Senator James E. DeGrange, Sr., District 32

Senator Arthur Dorman, District 21

Senator Roy P. Dyson, District 29

Senator Timothy R. Ferguson, District 4

Senator Leo E. Green, District 23

Senator John J. Hafer, District 1

Senator Larry E. Haines, District 5

Senator Andrew P. Harris, District 9

Senator J. Robert Hooper, District 35

Senator Nancy Jacobs, District 34

Senator Robert H. Kittleman, Senator, District 14

Senator Alexander X. Mooney, District 3

Senator Robert R. Neall, District 33

Senator Jean W. Roesser, District 15

Senator Perry Sfikas, District 46

Senator Norman R. Stone, Jr., District 7

Senator Leonard H. Teitelbaum, District 19

Bill indexed under the following Subjects:

ARMED FORCES -see also- MILITIA

EXEMPTIONS

INCOME TAX

RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT

VETERANS

Bill affects the following Statutes:

Tax - General

( 10-207 , 10-207 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments: None offered