Opportunity Zone Tax Deduction Reform Act of 2020
Sponsor: Jim Rosapepe (District 21)Committee: Budget and TaxationSubject: Taxes - IncomeStatus: Hearing 2/05 at 2:00 p.m. (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.
AI analysis is off. Set ANTHROPIC_API_KEY to enable summaries, pros and cons, and questions.
Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.
Testimony (14)
MGA witness listFAV 6FavorableUNF 8Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Zinsmeister, Robert | Associated Builders and Contractors, Inc. | Written (PDF) |
| FAV | WILSON RANDALL, CLAUDIA | CDN | Written (PDF) |
| FAV | Mazerov, Michael | Center on Budget and Policy Priorities | Oral + Written (PDF) |
| FAV | Schumitz, Kalilobbyist | MD Center on Economic Policy | Oral + Written (PDF) |
| FAV | zwerling, samanthalobbyist | msea | Written (PDF) |
| FAV | Senator Rosapepe, Senator Rosapepelegislator | Individual | Oral + Written (PDF) |
| UNF | Darmody, Brian | Association of University Research Parks | Oral + Written (PDF) |
| UNF | Fry, Donald | Greater Baltimore Committee | Written (PDF) |
| UNF | Schulz, Kelly | MD Dept of Commerce | Written (PDF) |
| UNF | Holt, Kenneth | MD Dept of Housing & Community Devel | Position only |
| UNF | Tabuteau, Richardlobbyist | MD Tech Council | Written (PDF) |
| UNF | Graf, Lorilobbyist | Maryland Building Industry Association | Written (PDF) |
| UNF | Griffin, Andrewlobbyist | Maryland Chamber of Commerce | Written (PDF) |
| UNF | Mills, Len | VerteOZ | Oral + 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…
UNFGraf, LoriMaryland Building Industry AssociationRegistered for: Maryland Building Industry Association
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…