Income Tax - Subtraction Modification - Losses From Theft or Fraud
Sponsor: Jim Rosapepe (District 21)Committee: Budget and TaxationSubject: Taxes - IncomeStatus: Hearing 2/14 at 1:00 p.m. (as of Nov 13, 2024)
What this bill does
Official synopsis
Allowing, subject to certain limitations, a subtraction modification under the Maryland income tax for certain personal casualty losses related to a theft or fraud scheme; and applying the Act to taxable years beginning after December 31, 2023.
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 (3)
MGA witness listFAV 2FavorableUNF 1Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Hawkins, Giavante | MSATP | Written (PDF) |
| FAV | Senator Rosapepe, Senator Rosapepelegislator | Individual | Oral |
| UNF | Kinnally, Kevin | Maryland Association of Counties (MACo) | Written (PDF) |