Income Tax - Credit for Income Taxes and Penalties Due to Financial Exploitation
Sponsor: Vaughn Stewart (District 19)Committee: Ways and MeansSubject: Taxes - IncomeStatus: Unfavorable Report by Ways and Means; Withdrawn (as of Sep 4, 2026)
What this bill does
Official synopsis
Allowing a credit against the State income tax for certain income taxes and penalties attributable to an early withdrawal of retirement funds due to financial exploitation; and applying the Act to all taxable years beginning after December 31, 2025.
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Testimony (14)
MGA witness listFAV 12FavorableUNF 1UnfavorableINFO 1Information only
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Westrick, Saralobbyist | AARP Maryland | Written (PDF) |
| FAV | Bevan-Dangel, Jenniferlobbyist | Economic Action Maryland Fund | Written (PDF) |
| FAV | Doyle, Robert | MD Federation of NARFE SLC | Written (PDF) |
| FAV | Winkelman, Michael | Maryland Association for Justice | Oral + Written (PDF) |
| FAV | Enten, Robert | Maryland Bankers Association | Oral |
| FAV | Richards, Evanlobbyist | Maryland Bankers Association | Written (PDF) |
| FAV | Peters, Meganlobbyist | Maryland Senior Citizens Action Network (MSCAN) | Written (PDF) |
| FAV | Proctor, Karessa | NASW Maryland | Written (PDF) |
| FAV | Fay, Deanna | Self | Oral + Written (PDF) |
| FAV | Delegate Stewart, Delegate Stewartlegislator | Individual | Oral |
| FAV | Lang, Alan | Individual | Position only |
| FAV | Stewart, Vaughn | Individual | Written (PDF) |
| UNF | Hawkins, Giavante | MSATP | Written (PDF) |
| INFO | Dudzic, Matthew | Office of the Comptroller | Written (PDF) |
Organizations on record
Registered lobbyists who testified
FAVBevan-Dangel, JenniferEconomic Action Maryland FundRegistered for: Maryland Consumer Rights Coalition DBA Economic Action Maryland; Humane Society of the United States; Chesapeake Bay Foundation; Humane World for Animals
FAVPeters, MeganMaryland Senior Citizens Action Network (MSCAN)Registered for: Alzheimer's Association