MD HB224 | 2020 | Regular Session

Note: Carry Foward to future HB262

Status

Spectrum: Partisan Bill (Democrat 26-0)
Status: Engrossed on March 12 2020 - 50% progression, died in committee
Action: 2020-03-13 - Referred Budget and Taxation
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Engrossed) [PDF]

Summary

Requiring certain taxpayers to add a certain deduction for gains from sales or exchanges of qualified opportunity zone property back to federal adjusted gross income to determine Maryland adjusted gross income; requiring certain taxpayers to add a certain deduction for gains from sales or exchanges of qualified opportunity zone property back to federal adjusted gross income to determine Maryland modified income; and applying the Act to taxable years beginning after December 31, 2019.

Tracking Information

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Title

Opportunity Zone Tax Deduction Reform Act of 2020

Sponsors


Roll Calls

2020-03-12 - House - Third Reading Passed (Y: 88 N: 46 NV: 2 Abs: 5) [PASS]

History

DateChamberAction
2020-03-13SenateReferred Budget and Taxation
2020-03-12HouseThird Reading Passed (88-46)
2020-03-10HouseSecond Reading Passed with Amendments
2020-03-10HouseFavorable with Amendments {985761/1 Adopted
2020-03-09HouseFavorable with Amendments Report by Ways and Means
2020-01-29HouseHearing 2/12 at 1:00 p.m.
2020-01-29HouseHearing canceled
2020-01-24HouseHearing 2/13 at 1:00 p.m.
2020-01-16HouseFirst Reading Ways and Means

Same As/Similar To

HB224 (Carry Over) 2020-03-13 - Referred Budget and Taxation
SB263 (Crossfiled) 2020-01-28 - Hearing 2/05 at 2:00 p.m.

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
Tax - General10204(n/a)See Bill Text
Tax - General10305(n/a)See Bill Text

Maryland State Sources


Bill Comments

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