MD SB588 | 2024 | Regular Session
Status
Spectrum: Bipartisan Bill
Status: Introduced on January 25 2024 - 25% progression
Action: 2024-01-29 - Hearing 2/07 at 2:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 25 2024 - 25% progression
Action: 2024-01-29 - Hearing 2/07 at 2:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Increasing, from $15,000 to $20,000, the amount allowed as a subtraction modification under the Maryland income tax for retirement income attributable to an individual's employment as a public safety employee; and applying the Act to all taxable years beginning after December 31, 2023.
Title
Income Tax – Subtraction Modification – Public Safety Employee Retirement Income
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-29 | Senate | Hearing 2/07 at 2:00 p.m. |
| 2024-01-25 | Senate | First Reading Budget and Taxation |
Same As/Similar To
HB714 (Crossfiled) 2024-01-26 - Hearing 2/15 at 1:00 p.m.
Subjects
Correctional Officers
Emergency Medical Services
Emergency Services
Exemptions
Fire Protection
Income Tax
Law Enforcement
Rescue Squads
Retirement
Taxes - Income
Emergency Medical Services
Emergency Services
Exemptions
Fire Protection
Income Tax
Law Enforcement
Rescue Squads
Retirement
Taxes - Income
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 207 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0588?ys=2024RS |
| Text | https://mgaleg.maryland.gov/2024RS/bills/sb/sb0588f.pdf |
