MD SB611 | 2019 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 4 2019 - 25% progression, died in committee
Action: 2019-02-28 - Hearing 3/08 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 4 2019 - 25% progression, died in committee
Action: 2019-02-28 - Hearing 3/08 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allowing a subtraction modification under the Maryland income tax for certain deposits into certain catastrophe savings accounts and the interest earnings of the account; providing for the maximum amount that may be maintained in a catastrophe saving account; requiring an account holder that withdraws funds from an account for an ineligible purpose to add the funds back to the account holder's federal adjusted gross income and pay a 2.5% penalty; prohibiting a taxpayer from establishing more than one catastrophe savings account; etc.
Title
Income Tax - Subtraction Modification - Catastrophe Savings Accounts
Sponsors
Sen. Guy Guzzone [D] |
History
Date | Chamber | Action |
---|---|---|
2019-02-28 | Senate | Hearing 3/08 at 1:00 p.m. |
2019-02-28 | Senate | Hearing canceled |
2019-02-06 | Senate | Hearing 3/06 at 1:00 p.m. |
2019-02-04 | Senate | First Reading Budget and Taxation |
Subjects
Comptroller
Emergencies
Exemptions
Income Tax
Insurance
Interest
Records
Rules and Regulations
Taxes - Income
Weather
Emergencies
Exemptions
Income Tax
Insurance
Interest
Records
Rules and Regulations
Taxes - Income
Weather