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SB 622

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Community Reinvestment and Repair Fund - Funding (Maryland Reparations Act of 2024)

Sponsor: Senator CarterCommittee: Budget and TaxationSubject: Taxes - MiscellaneousStatus: Hearing 2/14 at 1:00 p.m. (as of Nov 13, 2024)

What this bill does

Official synopsis

Requiring that a certain amount of revenue from the State individual income tax and Maryland estate tax be distributed to the Community Reinvestment and Repair Fund; altering the rates and rate brackets under the State income tax on certain income of individuals; providing for an additional State individual income tax rate on the net capital gains of individuals; altering a certain limit on the unified credit used for determining the Maryland estate tax; increasing the rate of the sales and use tax for cannabis from 9% to 14%; etc.

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Testimony (21)

MGA witness list
FAV 6FavorableUNF 15Unfavorable
PositionWitnessOrganizationTestimony
FAVBridges, KamJob Opportunities Task ForcePosition only
FAVGrandpre, LawrenceLeaders of a Beautiful StruggleOral
FAVLove, DayvonLeaders of a Beautiful StruggleOral
FAVPhelps Jr, KenThe Episcopal Diocese of MarylandWritten (PDF)
FAVCarter, JillIndividualOral + Written (PDF)
FAVSenator Carter, Senator CarterlegislatorIndividualOral
UNFPrice, SuzanneConcerned CitizenPosition only
UNFMcGee, ChristalobbyistMaryland RealtorsWritten (PDF)
UNFLevine, BrianlobbyistMontgomery County Chamber of CommerceWritten (PDF)
UNFAtkins, RobertIndividualPosition only
UNFBenjaminson, HeatherIndividualPosition only
UNFDiefenbach, LindaIndividualPosition only
UNFDitraglia, FrankIndividualPosition only
UNFD’Orazio , DanielaIndividualPosition only
UNFElbourn, JamesIndividualPosition only
UNFKatz, JanetIndividualPosition only
UNFSirkel, RobinIndividualPosition only
UNFVernon, MichaelIndividualPosition only
UNFVolkmar, LeslieIndividualPosition only
UNFWilliams, PeggyIndividualPosition only
UNFsirkel, jessIndividualPosition only

Organizations on record

Registered lobbyists who testified

UNFMcGee, ChristaMaryland RealtorsRegistered for: Maryland REALTORS; Maryland Association of Realtors
UNFLevine, BrianMontgomery County Chamber of CommerceRegistered for: Montgomery County Chamber of Commerce