Budget & Taxes

in committee · Maryland · House of Delegates Jan 24, 2026

HB 82: Recordation and Transfer Taxes - Exemption for Related Business Entities - Common Law Trusts

HB 82 amends Maryland tax law to expand an existing exemption from recordation and transfer taxes to include transfers involving common law trusts between related business entities. It modifies the definition of "business entity" to explicitly include common law trusts, allowing tax-free transfers of real property between entities like parent companies and wholly-owned subsidiaries or related trusts. This change applies to transfers for no consideration, nominal consideration, or where consideration involves only ownership interest changes. The law takes effect July 1, 2026, and directly affects business entities and common law trusts conducting such intra-group real estate transfers.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExpands tax exemption for business transfers, reducing state revenue by allowing tax-free property transfers between related entities, aligning with tax break creation for businesses.90% confidence

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died · Maryland · House of Delegates Mar 9, 2026

HB 323: Income Tax - Credit for Income Taxes and Penalties Due to Financial Exploitation

HB 323 creates a Maryland state income tax credit for residents who paid early withdrawal penalties on retirement funds due to financial exploitation. The credit covers the lesser of the state tax attributable to those penalties or the federal penalty paid, directly helping vulnerable adults (defined as older adults or those with diminished capacity due to age, disability, or health conditions) who were exploited by someone in a position of trust. It applies when exploitation involved deception, breach of fiduciary duty, or misuse of assets leading to forced early retirement fund withdrawals. This policy change provides financial relief for victims of financial exploitation by offsetting penalties they incurred.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit providing relief to vulnerable adults, reducing their tax burden through direct tax relief for exploitation-related penalties.95% confidence

Sub-Topics Income Tax Tax Credits

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passed · Maryland · Senate Mar 24, 2026

SB 455: Economic Development - Transformational Project Financing Program - Establishment

SB 455 establishes the Transformational Project Financing Program to help local governments fund large-scale development projects in designated areas. It allows counties or cities to apply to the Maryland Economic Development Corporation for "State-supported development district" status, requiring them to redirect property tax increases (tax increment) from these areas into a special fund instead of the general budget. This fund finances projects in priority areas like sustainable communities, transit-oriented developments, and designated enterprise zones. The bill creates new rules for calculating state revenue contributions and managing bond proceeds specifically for these designated districts.

Topics ✓ Budget & TaxesSupports Budget & TaxesRedirects property tax increments to a special fund for development projects, promoting targeted fiscal management and strategic spending on priority areas.90% confidence ✓ HousingSupports HousingBill creates tax increment fund for development projects in sustainable communities, directly supporting housing development priorities without restricting tenant rights or affordability.85% confidence

Sub-Topics Property Tax Revenue Tax Incentives Housing Finance Property Development Property Taxes Tags Economic Development

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in committee · Maryland · House of Delegates Jan 29, 2026

HB 5: Community Development - Maryland New Markets Development Program - Establishment

HB 5 establishes Maryland's New Markets Development Program, administered by the Department of Housing and Community Development. It allows businesses to claim tax credits against certain state insurance taxes (like premium receipts tax) for equity investments in qualifying community development entities that serve low-income areas. The credit equals 0% of the investment amount for the first three years and 12.5% for the next four years, applicable to investments made on or after July 1, 2026. This directly affects investors in qualifying community development entities and businesses meeting the "qualified active low-income community business" criteria, including those relocating operations to Maryland.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credits for businesses investing in low-income community development, providing tax relief to stimulate economic activity in underserved areas.90% confidence ✓ HousingSupports HousingBill creates tax credits to incentivize investments in low-income areas via community development entities, directly advancing affordable housing development.90% confidence

Sub-Topics Tax Incentives Community Development Property Development

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signed · Maryland · Senate Apr 14, 2026

SB 43: Financial Institutions - Maryland Community Investment Venture Fund and Regulation of Entities - Revisions

SB 43 repeals a $25 fee charged to banking institutions for certificate of valid charter requests and extends the deadline for the Commissioner to match investments in the Maryland Community Investment Venture Fund from 2028 to 2030. The bill revises the Fund’s purpose to focus on developing financial products and services for low-to-moderate-income communities through investments, grants, and innovation testing. It also updates assessment credit rules for banking institutions and credit unions, alters the definition of "emergency" for banking closures, and clarifies the Fund’s status as a nonlapsing state fund. These changes directly affect Maryland banking institutions, credit unions, and residents in low-to-moderate-income areas seeking improved financial services.

Topics ✓ Budget & TaxesSupports Budget & TaxesRevises Maryland Community Investment Fund purpose to develop financial products for low-income communities through government-funded investments and grants, advancing fiscal support for underserved populations.85% confidence

passed both · Maryland · House of Delegates Apr 13, 2026

HB 139: Sales and Use Tax - Tax-Free Day - Veterans' Day

HB 139 establishes an annual tax-free day on November 11 (Veterans Day) starting in 2026, allowing veterans to purchase items under $2,000 without paying Maryland's sales tax. To qualify, veterans must show a driver's license or ID card noting veteran status at the point of sale. The Comptroller can suspend the tax-free day at their discretion. This law directly affects veterans shopping for qualifying items on Veterans Day, creating a temporary sales tax exemption with specific verification requirements.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill creates temporary sales tax exemption for veterans, reducing state revenue and weakening tax base during the tax-free day.90% confidence ✓ VeteransSupports VeteransTax-free shopping on Veterans Day provides direct financial benefit to veterans, recognizing service through reduced costs on qualifying items.95% confidence

Sub-Topics Audits & Accountability Sales Tax Tax Incentives Memorials & Recognition

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signed · Maryland · Senate May 12, 2026

SB 277: Estates and Trusts - Venue for Administrative and Judicial Probate and Application of Inheritance Tax

SB 277 changes how Maryland handles probate cases and inheritance tax for people who did not live in Maryland at the time of death. It requires that for inheritance tax purposes, intangible property (like stocks, bank accounts, or investments) is taxed based on the decedent's home state, not where the property is located in Maryland. The bill also repeals an existing exemption that previously allowed nonresident decedents to avoid inheritance tax on personal property passing to heirs. These changes apply retroactively to estates opened before the law took effect.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill closes tax loophole by repealing exemption for nonresident inheritance tax on personal property, increasing state revenue collection.90% confidence

in committee · Maryland · Senate Feb 3, 2026

SB 372: Community Development - Maryland New Markets Development Program - Establishment

SB 372 establishes Maryland's New Markets Development Program to incentivize private investment in low-income communities. It creates a refundable tax credit against state income tax and certain insurance taxes for investors who make qualified equity investments in Maryland-based community development entities serving low-income areas. The credit provides 5% of the investment amount for the first three years and 8.75% for the next four years, totaling seven years. This directly affects investors, community development entities, and qualifying low-income businesses that receive capital to support job creation and economic development in underserved areas.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates refundable tax credits (5-8.75%) for investors in low-income communities, incentivizing private investment through tax relief to fund community development.95% confidence ✓ HousingSupports HousingCreates tax credits to incentivize private investment in low-income community development, directly funding affordable housing initiatives in underserved areas.95% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives Community Development Property Development Tags Economic Development

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signed · Maryland · Senate May 31, 2026

SB 148: Income Tax - Credit for 9-1-1 Specialist Retirement Income (Supporting Our 9-1-1 Specialists Act)

SB 148 expands Maryland's income tax break for retired public safety employees to include 9-1-1 specialists. The bill modifies the tax code to allow retired 9-1-1 specialists - defined as those working at county emergency call centers handling emergency requests - to subtract up to $15,000 of their retirement income from taxable income, just like correctional officers and emergency medical personnel. This change applies to retirees aged 55+ who receive retirement income attributable to their work as 9-1-1 specialists. The law takes effect for tax years beginning after December 31, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax break for retired 9-1-1 specialists, reducing taxable income by $15k, providing tax relief to public safety retirees per tax code modification.95% confidence

Sub-Topics Income Tax Tax Incentives Tags Public Safety

died · Maryland · House of Delegates Feb 17, 2026

HB 314: Automation Technology Deployment Assessment and Displaced Employee Retraining Fund - Established

HB 314 requires large Maryland employers (100+ employees who reduced their workforce by at least 10 due to automation) to report annual data on automation use and job losses starting in 2028. These employers must pay a $900 assessment per displaced employee (adjusted annually for inflation) to fund the Displaced Employee Retraining Fund. The fund supports retraining for workers separated from jobs due to automation technology, excluding voluntary departures or facility closures. Employers can reduce payments by 50% if they provide severance, retraining opportunities, or help place workers with smaller local employers.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes $900 employer assessment to fund retraining program, creating new state revenue stream for workforce support under budget allocation.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentMandates employer funding for retraining displaced workers due to automation, directly supporting worker transition and job re-employment under Labor & Employment standards.95% confidence

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