Income Tax - Child Tax Credit and Expansion of the Earned Income Credit
Sponsor: Nancy J. King (District 39)Committee: Budget and TaxationSubject: Taxes - IncomeStatus: Enacted under Article II, Section 17(b) of the Maryland Constitution - Chapter 40 (as of Dec 1, 2021)
What this bill does
Official synopsis
Altering the calculation of the Maryland earned income credit to allow certain residents to claim the credit; allowing certain taxpayers with federal adjusted gross income for the taxable year that is $6,000 or less to claim a credit against the State income tax for each qualified child in an amount equal to $500; allowing certain taxpayers to claim a refund in the amount of any excess credit; applying the Act to taxable years beginning after December 31, 2019, but before January 1, 2023; etc.
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Testimony (33)
MGA witness listFAV 32FavorableFWA 1Favorable with amendments
Organizations on record
Registered lobbyists who testified
FAVSchumitz, KaliMaryland Center on Economic PolicyRegistered for: Maryland Center on Economic Policy
FAVSchumitz, KaliMaryland Center on Economic PolicyRegistered for: Maryland Center on Economic Policy
FAVWalmsley, KeithMaryland Developmental Disabilities CouncilRegistered for: Bank of America Corporation; CarMax, Inc.; Carfax, Inc.; Christiana Care; Consumer Data Industry Association; Fiserv…
