Budget & Taxes (Income Tax)

in committee · Maryland · House of Delegates Feb 12, 2026

HB 1256: Income Tax - Angel Investor Tax Credit

HB 1256 creates an Angel Investor Tax Credit in Maryland, allowing investors to claim a credit against their state income tax for qualifying investments in Maryland companies. The credit applies to investments in companies operating in specific economic sectors (to be designated by the Department of Commerce), with the Department required to maintain an online portal for applications and evaluate additional qualifying sectors. Investors must make their investment within a set timeframe after receiving a tax credit certificate, and the bill establishes a reserve fund for the credit program that earns interest. The credit directly affects angel investors who fund qualifying Maryland businesses and the state's economic development efforts, with provisions for recapturing credits if requirements aren't met.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates tax credit for wealthy angel investors, reducing state tax revenue and favoring high-income investors over public funding needs.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Maryland · House of Delegates Feb 12, 2026

HB 1128: Income Tax – Angel Investor Tax Credit for Investments in Emergent Technology

HB 1128 creates a state income tax credit for individuals or entities investing in Maryland-based companies developing emergent technologies like artificial intelligence, quantum computing, or cybersecurity. To qualify, investors must contribute at least $25,000 before July 1, 2029, in exchange for equity (not debt), and the company must meet specific criteria for "emergent technology" development. The credit is funded through a dedicated Angel Investor Tax Credit Reserve Fund, which earns interest and is managed by the Department of Commerce. This policy directly affects early-stage tech investors and qualifying Maryland companies seeking capital to grow.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates tax credit for wealthy investors, reducing state revenue; aligns with 'creates tax breaks primarily for wealthy' indicator under OPPOSE.90% confidence ✓ TechnologySupports TechnologyCreates tax credit for investing in AI, quantum, and cybersecurity startups, directly incentivizing funding for emergent technology development.95% confidence

Sub-Topics Income Tax Tax Credits Artificial Intelligence Cybersecurity Emerging Technology

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in committee · Maryland · Senate Mar 5, 2026

SB 987: Corporate Income Tax - Addition Modification - Direct-to-Consumer Pharmaceutical Advertising

SB 987 modifies Maryland's corporate income tax to allow pharmaceutical companies to deduct certain direct-to-consumer advertising expenses for covered drugs. It directly affects pharmaceutical manufacturers that advertise prescription drugs directly to the public via TV, radio, social media, or digital platforms (excluding journal ads). The bill creates a new tax deduction for these advertising costs, with revenue from this modification distributed as follows: the first $5 million annually to Medicaid eligibility operations, and remaining funds to health insurance subsidy programs. This change aligns Maryland's tax treatment with federal rules while directing revenue toward health coverage affordability.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill creates new corporate tax deduction, reducing state revenue by allowing pharmaceutical companies to deduct advertising costs, weakening fiscal management.85% confidence

Sub-Topics Business Taxes Income Tax

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signed · Maryland · Senate Apr 28, 2026

SB 519: Earned Income Tax Credit - Assistance Program Implementation Delay and Study

SB 519 delays Maryland's Earned Income Tax Credit Assistance Program implementation until 2029, instead of 2024. It requires the Comptroller's Office to study outreach efforts by December 31, 2030, to help low-income residents claim the credit they qualify for but often miss. The bill also directs the Department of Service and Civic Innovation to recommend ways to assist low-income residents in claiming tax credits. This legislation postpones the program's start date while mandating studies to improve future outreach and participation.

Topics ✗ Budget & TaxesOpposes Budget & TaxesDelays EITC implementation until 2029, restricting immediate tax relief for low-income residents instead of advancing the credit program.85% confidence

Sub-Topics Audits & Accountability Income Tax Tax Credits

in committee · Maryland · Senate Feb 14, 2026

SB 973: Income Tax - Credit for Long-Term Care Premiums

SB 973 adjusts Maryland's income tax credit for long-term care insurance premiums. It reduces the maximum annual credit from $500 to $250 per person for Maryland residents aged 45 or older who pay premiums for qualifying long-term care insurance covering themselves or eligible family members. The bill restricts claims if the insured individual was covered before January 1, 2027, or if the credit was previously claimed for that person. These changes take effect for tax years beginning after December 31, 2026.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces tax credit amount, restricting tax breaks for long-term care insurance premiums90% confidence ✗ HealthcareOpposes HealthcareReduces tax credit for long-term care insurance from $500 to $250, weakening financial support for coverage and limiting access to long-term care services.85% confidence

Sub-Topics Income Tax Tax Credits Long-Term Care

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in committee · Maryland · House of Delegates Feb 5, 2026

HB 930: Income Tax – Decoupling From Federal Changes – Education Expenses

HB 930 modifies Maryland’s income tax code to decouple from federal changes affecting education expenses. It prohibits the Governor from joining a federal tax credit program for elementary/secondary education scholarships and adjusts how employer contributions to education accounts (like Maryland’s Prepaid College Trust or College Investment Plans) are treated. Specifically, it adds tax on unused distributions from these accounts if not used for qualified education expenses, while excluding contributions and qualified distributions from taxable income. This directly affects Maryland residents using these education savings accounts and ensures state tax rules differ from federal law.

Topics ✗ Budget & TaxesOpposes Budget & TaxesAdds tax on unused education account distributions, increasing tax burden and restricting tax relief for education expenses.90% confidence ✗ EducationOpposes EducationBlocks federal education tax credits for scholarships and taxes unused education savings, restricting access to education funding mechanisms.95% confidence

Sub-Topics Income Tax Tax Credits Higher Education

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in committee · Maryland · Senate Feb 13, 2026

SB 826: Income Tax – Angel Investor Tax Credit for Investments in Emergent Technology

SB 826 creates a tax credit for Maryland investors who fund qualified early-stage companies developing emergent technology like artificial intelligence, quantum computing, or cybersecurity. Investors must contribute at least $25,000 in cash to a Maryland company meeting specific criteria, with the credit covering a percentage of that investment. The state establishes an Angel Investor Tax Credit Reserve Fund to manage the program, requiring investors to make qualifying investments within a set timeframe after certification. This credit directly affects individual investors and Maryland-based tech startups in designated fields, aiming to boost local investment in emerging technology sectors.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates tax credit for wealthy angel investors, aligning with 'tax breaks primarily for wealthy' indicator per topic guidelines.90% confidence ✓ TechnologySupports TechnologyTax credit directly funds investments in AI, quantum, and cybersecurity startups, promoting emergent technology development through financial incentives.95% confidence

Sub-Topics Income Tax Tax Credits Artificial Intelligence Cybersecurity Emerging Technology

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in committee · Maryland · House of Delegates Jan 16, 2026

HB 33: Income Tax - Itemized Deductions - Charitable Donations

HB 33 would exempt charitable donations from a 7.5% reduction applied to itemized deductions for high-income Maryland taxpayers. Specifically, it removes the requirement to reduce itemized deductions by 7.5% of income exceeding $200,000 (or $100,000 for married filing separately) for charitable contributions claimed under federal law. This change directly affects Maryland residents who itemize deductions on their state tax returns and earn above these thresholds. The bill modifies Maryland’s tax code to align charitable giving with federal deduction rules, effective for 2026 tax years. It does not alter the deduction limits themselves but prevents charitable donations from being subject to the income-based reduction.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRemoves 7.5% deduction reduction for high-income charitable donors, granting tax relief to wealthy taxpayers, aligning with 'creates tax breaks primarily for wealthy' indicator.90% confidence

Sub-Topics Income Tax

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signed · Maryland · House of Delegates Apr 14, 2026

HB 472: Income Tax - Theatrical Production Tax Credit - Alterations and Sunset Extension

HB 472 extends the expiration date for Maryland's theatrical production tax credit from 2027 to 2032. This credit allows theater producers to claim a reduction on their state income tax for qualifying production costs. The bill directly affects film and theater producers in Maryland who currently qualify for the credit. It modifies existing law (from 2022) to extend the credit's validity period by five additional years, ensuring the program remains active through 2032 without requiring new legislative action.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExtends tax credit for theaters, reducing state tax revenue; weakens fiscal management by forgoing potential revenue without funding public services.90% confidence

Sub-Topics Income Tax Tax Credits

in committee · Maryland · House of Delegates Feb 3, 2026

HB 690: Corporate Income Tax - Rate Reduction (Economic Competitiveness Act of 2026)

HB 690, the "Economic Competitiveness Act of 2026," lowers Maryland's corporate income tax rate gradually over several years. It directly affects corporations doing business in Maryland that pay state corporate income tax. The bill reduces the rate from 8.25% (for tax years 2026-2027) to 7.75% (2027-2028), then to 7.25% (2028-2029), 6.75% (2029-2030), and finally to 6.25% starting in 2030. The changes take effect July 1, 2026, as specified in the bill's provisions.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces corporate tax rates from 8.25% to 6.25%, decreasing state revenue and weakening the tax base for public funding.95% confidence

Sub-Topics Business Taxes Income Tax

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