Opportunity Zone Tax Deduction Reform Act of 2020
Sponsor: Julie Palakovich Carr (District 17)Committee: Ways and MeansSubject: Taxes - IncomeStatus: First Reading Budget and Taxation (as of Nov 6, 2020)
What this bill does
Official synopsis
Requiring certain taxpayers to add a certain deduction for gains from sales or exchanges of qualified opportunity zone property back to federal adjusted gross income to determine Maryland adjusted gross income; requiring certain taxpayers to add a certain deduction for gains from sales or exchanges of qualified opportunity zone property back to federal adjusted gross income to determine Maryland modified income; and applying the Act to taxable years beginning after December 31, 2019.
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Testimony (13)
MGA witness listFAV 6FavorableUNF 7Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Wilson Randall, Claudia | CDN | Written (PDF) |
| FAV | MAZEROV, MICHAEL | CENTER ON BUDGET AND POLICY PRIORITIES | Oral + Written (PDF) |
| FAV | Orr, Benjamin | Maryland Center on Economic Policy | Written (PDF) |
| FAV | smalls, cindylobbyist | afscne council 3 | Position only |
| FAV | zwerling, samanthalobbyist | msea | Written (PDF) |
| FAV | Delegate Palakovich Carr, Delegate Palakovich Carrlegislator | Individual | Oral + Written (PDF) |
| UNF | Zinsmeister, Robert | Associated Builders and Contractors, Inc. | Written (PDF) |
| UNF | Holt, Kenneth | DHCD | Position only |
| UNF | Fry, Donald | Greater Baltimore Committee | Written (PDF) |
| UNF | Schulz, Kelly | MD Dept of Commerce | Written (PDF) |
| UNF | Tabuteau, Richardlobbyist | MD Tech Council | Written (PDF) |
| UNF | Griffin, Andrewlobbyist | Maryland Chamber of Commerce | Written (PDF) |
| UNF | Swanson, Tricia | Montgomery County Chamber of Commerce | Written (PDF) |
Organizations on record
Registered lobbyists who testified
UNFTabuteau, RichardMD Tech CouncilRegistered for: Bolt Technology OÜ dba Hopp; Boyd Gaming Corporation; ChargePoint; Chevy Chase Village; Elev8 Baltimore, Inc.; Fortinet…
UNFGriffin, AndrewMaryland Chamber of CommerceRegistered for: Alliance to Prevent Legionnaire's Disease; American Subcontractors Association of Baltimore; Annapolis Maritime Museum & Park; Associated Utility Contractors of Maryland; Experience Prince George's; Howard County Chamber of Commerce…