Income Tax - Subtraction Modification - Retirement Income
Hearing (House)
Summary
The bill changes Maryland’s income‑tax rules so that people 65 or older, those who are totally disabled, or whose spouse is disabled can subtract a larger share of qualified retirement plan income from their state taxable income. The deduction starts at 30 % for tax years after 2025, rises to 60 % for years after 2026, and reaches 100 % for years after 2027. It also removes previous limits on how much can be deducted and adds a $15,000 cap for retired forest, park or wildlife rangers unless they meet the age or disability criteria.
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Ask about HB 707
3 free questions a day, no accountHearings
- Ways and Means — Bill HearingWays and Means · Feb 19, 2026
History
- Hearing 2/19 at 1:00 p.m.
- First Reading Ways and Means
Sponsors
- Grammer · sponsor
- Arikan
- Chisholm
- M. Morgan
- Nawrocki
- Szeliga
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