Income Tax - Subtraction Modification for Public Safety Retirement Income - Amount

Summary

The bill increases the amount of public‑safety retirement income that can be subtracted from Maryland taxable income, phasing the limit up from $15,000 to $20,000 between 2025 and 2029. It applies to retirees who are at least 55 and receive pension benefits from an employee retirement system for service as a correctional officer, law‑enforcement officer, firefighter, rescue worker, or emergency medical technician. The change reduces state tax liability for these workers as they age into retirement.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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