MD SB263 | 2020 | Regular Session
Note: Carry Foward to future SB113
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 20 2020 - 25% progression, died in committee
Action: 2020-01-28 - Hearing 2/05 at 2:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 20 2020 - 25% progression, died in committee
Action: 2020-01-28 - Hearing 2/05 at 2:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [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
History
| Date | Chamber | Action |
|---|---|---|
| 2020-01-28 | Senate | Hearing 2/05 at 2:00 p.m. |
| 2020-01-28 | Senate | Hearing canceled |
| 2020-01-21 | Senate | Hearing 2/05 at 1:00 p.m. |
| 2020-01-20 | Senate | First Reading Budget and Taxation |
Same As/Similar To
SB263 (Carry Over) 2020-01-28 - Hearing 2/05 at 2:00 p.m.
HB224 (Crossfiled) 2020-03-13 - Referred Budget and Taxation
HB224 (Crossfiled) 2020-03-13 - Referred Budget and Taxation
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 |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0263?ys=2020RS |
| Text | https://mgaleg.maryland.gov/2020RS/bills/sb/sb0263f.pdf |
