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]
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.
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
| Date | Chamber | Action |
|---|---|---|
| 2020-03-13 | Senate | Referred Budget and Taxation |
| 2020-03-12 | House | Third Reading Passed (88-46) |
| 2020-03-10 | House | Second Reading Passed with Amendments |
| 2020-03-10 | House | Favorable with Amendments {985761/1 Adopted |
| 2020-03-09 | House | Favorable with Amendments Report by Ways and Means |
| 2020-01-29 | House | Hearing 2/12 at 1:00 p.m. |
| 2020-01-29 | House | Hearing canceled |
| 2020-01-24 | House | Hearing 2/13 at 1:00 p.m. |
| 2020-01-16 | House | First 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.
SB263 (Crossfiled) 2020-01-28 - Hearing 2/05 at 2:00 p.m.
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 204 | (n/a) | See Bill Text |
| Tax - General | 10 | 305 | (n/a) | See Bill Text |
