MD SB342 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on May 16 2024 - 100% progression
Action: 2024-05-16 - Approved by the Governor - Chapter 899
Text: Latest bill text (Chaptered) [PDF]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on May 16 2024 - 100% progression
Action: 2024-05-16 - Approved by the Governor - Chapter 899
Text: Latest bill text (Chaptered) [PDF]
Summary
Excluding the cash value of any qualified retirement savings plans or individual retirement accounts from the definition of "assets" for purposes of certain property tax relief provided to certain renters; and applying the Act to all taxable years beginning after June 30, 2024.
Title
Property Tax - Renters' Property Tax Relief Program - Assets Calculation
Sponsors
| Sen. Cory McCray [D] |
Roll Calls
2024-03-29 - House - Third Reading Passed (Y: 139 N: 0 NV: 1 Abs: 1) [PASS]
2024-02-15 - Senate - Third Reading Passed (Y: 46 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-15 - Senate - Third Reading Passed (Y: 46 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-05-16 | Senate | Approved by the Governor - Chapter 899 |
| 2024-04-01 | Senate | Returned Passed |
| 2024-03-29 | House | Third Reading Passed (139-0) |
| 2024-03-27 | House | Second Reading Passed |
| 2024-03-27 | House | Favorable Adopted |
| 2024-03-27 | House | Favorable Report by Ways and Means |
| 2024-03-19 | House | Hearing 3/19 at 1:30 p.m. |
| 2024-03-19 | House | Hearing canceled |
| 2024-03-05 | House | Hearing 3/19 at 1:00 p.m. |
| 2024-02-16 | House | Referred Ways and Means |
| 2024-02-15 | Senate | Third Reading Passed (46-0) |
| 2024-02-12 | Senate | Second Reading Passed with Amendments |
| 2024-02-12 | Senate | Favorable with Amendments {623227/1 Adopted |
| 2024-02-09 | Senate | Motion Special Order until 2/12 (Senator Guzzone) Adopted |
| 2024-02-09 | Senate | Favorable with Amendments {623227/1 |
| 2024-02-08 | Senate | Favorable with Amendments Report by Budget and Taxation |
| 2024-01-13 | Senate | Hearing 1/24 at 1:00 p.m. |
| 2024-01-12 | Senate | First Reading Budget and Taxation |
Same As/Similar To
HB287 (Crossfiled) 2024-05-16 - Approved by the Governor - Chapter 898
Subjects
Landlords and Tenants
Leases and Rent
Local Government Mandates
Property Tax
Retirement
Tax Credits
Taxes - Property
Leases and Rent
Local Government Mandates
Property Tax
Retirement
Tax Credits
Taxes - Property
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - Property | 9 | 102 | (n/a) | See Bill Text |
