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Original
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Opposite
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Review in
Original Chamber
Passed Both
Chambers
Conf. Cmte
(if necessary)
To Governor
Title
Income Tax – Subtraction Modification – Trade or Business Expenses Resulting in Federal Loan Forgiveness
Sponsored by
Delegate Buckel
Status
In the House - Hearing 2/25 at 1:30 p.m.
Analysis
Fiscal and Policy Note
Synopsis
Allowing a subtraction modification under the Maryland income tax for certain expenses paid or incurred during the taxable year if the payment of the expense results in forgiveness of a certain loan and the income that results from the forgiveness is excluded from federal adjusted gross income in accordance with certain provisions of the federal CARES Act; and applying the Act to taxable years 2020 and 2021.
Committee Testimony
Details
Bill File Type: Regular
Effective Date(s): July 1, 2021
Legislation History
Chamber
House
Calendar Date
2/05/2021
Legislative Date
2/05/2021
Action
First Reading Ways and Means
Proceedings
Chamber
House
Calendar Date
2/08/2021
Legislative Date
2/08/2021
Action
Hearing 2/25 at 1:30 p.m.
Proceedings
Chamber Calendar Date Legislative Date Action Proceedings
House 2/05/2021 2/05/2021 First Reading Ways and Means
Text - First - Income Tax – Subtraction Modification – Trade or Business Expenses Resulting in Federal Loan Forgiveness
House 2/08/2021 2/08/2021 Hearing 2/25 at 1:30 p.m.
Last Updated: 4/1/2021 5:20 PM
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