Opportunity Zone Tax Deduction Reform Act of 2021
Sponsor: Jim Rosapepe (District 21)Committee: Budget and TaxationSubject: Taxes - IncomeStatus: Hearing 1/26 at 1:00 p.m. (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; and applying the Act to taxable years beginning after December 31, 2020.
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Testimony (8)
MGA witness listFAV 3FavorableUNF 5Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Schumitz, Kalilobbyist | Maryland Center on Economic Policy | Written (PDF) |
| FAV | Edwards, Donna | Maryland State and DC AFL-CIO | Written (PDF) |
| FAV | Mehu, Natashalobbyist | Mayor's Office of Government Relations | 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 | Kasemeyer, Pam | Schwartz, Metz & Wise, P.A. | Written (PDF) |
| UNF | Ballentine, Tom | Individual | Written (PDF) |
Organizations on record
Registered lobbyists who testified
FAVSchumitz, KaliMaryland Center on Economic PolicyRegistered for: Maryland Center on Economic Policy
FAVMehu, NatashaMayor's Office of Government RelationsRegistered for: Maryland Hospital Association; Maryland Patient Care and Access Coalition; Maryland Association of Certified Public Accountants; Maryland Academy of Advanced Practice Clinicians; Baltimore Washington Rapid Rail, LLC; Maryland Works, Inc.…
UNFGraf, LoriMaryland Building Industry AssociationRegistered for: Maryland Building Industry Association