HB 262

Opportunity Zone Tax Deduction Reform Act of 2021

Sponsor: Julie Palakovich Carr (District 17)Committee: Ways and MeansSubject: Taxes - IncomeStatus: First Reading Budget and Taxation (as of Dec 1, 2021)

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; applying the Act to taxable years beginning after December 31, 2020; etc.

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Testimony (12)

MGA witness list

FAV 7FavorableUNF 5Unfavorable

Position	Witness	Organization	Testimony
FAV	Schumitz, Kalilobbyist	Maryland Center on Economic Policy	Written (PDF)
FAV	Jackson, Kuijuan	Maryland Communities United	Position only
FAV	Slayton, Kevin	Maryland Fair Funding Coalition	Written (PDF)
FAV	Edwards, Donna	Maryland State and DC AFL-CIO	Written (PDF)
FAV	Delegate Palakovich Carr, Delegate Palakovich Carrlegislator	Individual	Position only
FAV	Palakovich Carr, Julie	Individual	Written (PDF)
FAV	Wilson Randall, Claudia	Individual	Written (PDF)
UNF	Fry, Donald	Greater Baltimore Committee	Written (PDF)
UNF	Graf, Lorilobbyist	Maryland Building Industry Association	Written (PDF)
UNF	Mitchell, Susan	Maryland REALTORS	Written (PDF)
UNF	Swanson, Tricia	Montgomery County Chamber of Commerce	Written (PDF)
UNF	Kasemeyer, Pam	Schwartz, Metz & Wise, P.A.	Written (PDF)