MD HB1344 | 2024 | Regular Session
Note: Carry Over of previous HB1185
Status
Spectrum: Moderate Partisan Bill (Republican 15-4)
Status: Introduced on February 9 2024 - 25% progression, died in committee
Action: 2024-02-09 - Hearing 2/29 at 1:00 p.m.
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 9 2024 - 25% progression, died in committee
Action: 2024-02-09 - Hearing 2/29 at 1:00 p.m.
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Altering a limitation on claiming the income tax credit for eligible long-term care insurance premiums for more than 1 year with respect to the same insured individual; altering the amount of the credit from a one-time $500 credit to a maximum of $250 for a taxable year beginning after December 31, 2024, but before January 1, 2027, and a maximum of $500 for a taxable year beginning after December 31, 2026; and applying the Act to taxable years beginning after December 31, 2024.
Title
Income Tax - Credit for Long-Term Care Premiums
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-02-09 | House | Hearing 2/29 at 1:00 p.m. |
| 2024-02-09 | House | First Reading Ways and Means |
Same As/Similar To
HB1185 (Carry Over) 2023-02-10 - Hearing 3/02 at 1:00 p.m.
Subjects
Income Tax
Insurance
kinship
Long-Term Care
Parents and Guardians
Reports
Spouses
Tax Credits
Taxes - Income
Insurance
kinship
Long-Term Care
Parents and Guardians
Reports
Spouses
Tax Credits
Taxes - Income
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 718 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1344?ys=2024RS |
| Text | https://mgaleg.maryland.gov/2024RS/bills/hb/hb1344f.pdf |
