Maryland 2022 Regular Session

Maryland House Bill HB1411 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4	4	[Brackets] indicate matter deleted from existing law.
5	5	hb1411
6	6
7	7	HOUSE BILL 1411
8	8	Q1 2lr3095
9	9	CF SB 930
10	10	By: Delegate Kipke
11	11	Introduced and read first time: February 17, 2022
12	12	Assigned to: Rules and Executive Nominations
13	13
14	14	A BILL ENTITLED
15	15
16	16	AN ACT concerning 1
17	17
18	18	Homeowners’ Property Tax Credit – Eligibility and Calculation – Alterations 2
19	19
20	20	FOR the purpose of altering the calculation of a certain homeowners’ property tax credit; 3
21	21	altering certain limitations on eligibility for the credit based on a homeowner’s net 4
22	22	worth and combined gross income; and generally relating to the homeowners’ 5
23	23	property tax credit. 6
24	24
25	25	BY repealing and reenacting, without amendments, 7
26	26	Article – Tax – Property 8
27	27	Section 9–104(a)(1) 9
28	28	Annotated Code of Maryland 10
29	29	(2019 Replacement Volume and 2021 Supplement) 11
30	30
31	31	BY repealing and reenacting, with amendments, 12
32	32	Article – Tax – Property 13
33	33	Section 9–104(a)(14), (e)(1), (g), and (j)(1) 14
34	34	Annotated Code of Maryland 15
35	35	(2019 Replacement Volume and 2021 Supplement) 16
36	36
37	37	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 17
38	38	That the Laws of Maryland read as follows: 18
39	39
40	40	Article – Tax – Property 19
41	41
42	42	9–104. 20
43	43
44	44	(a) (1) In this section the following words have the meanings indicated. 21
45	45
46	46	(14) (i) “Total real property tax” means the product of the sum of all 22
47	47	property tax rates on real property, including special district tax rates, for the taxable year 23
48	48	on a dwelling, multiplied by the lesser of: 24 2 HOUSE BILL 1411
49	49
50	50
51	51
52	52	1. [$300,000] $422,000; or 1
53	53
54	54	2. the assessed value of the dwelling reduced by the amount 2
55	55	of any assessment on which a property tax credit is granted under § 9–105 of this subtitle. 3
56	56
57	57	(ii) “Total real property tax” does not include any adjustment for any 4
58	58	other property tax credit under this title claimed against the property tax imposed on the 5
59	59	dwelling. 6
60	60
61	61	(e) (1) On or before May 1 of each year, the Department shall provide the 7
62	62	Comptroller information identifying owners of residential properties with an assessed 8
63	63	value not exceeding [$300,000] $422,000 who, during the preceding 3 years, failed to claim 9
64	64	the property tax credit under this section. 10
65	65
66	66	(g) (1) Except as provided in subsection (h) of this section, the property tax 11
67	67	credit under this section is the total real property tax of a dwelling, less the percentage of 12
68	68	the combined income of the homeowner that is described in paragraph (2) of this subsection. 13
69	69
70	70	(2) The percentage is: 14
71	71
72	72	(i) 0% of the 1st [$8,000] $11,500 of combined income; 15
73	73
74	74	(ii) 4% of the next [$4,000] $5,500 of combined income; 16
75	75
76	76	(iii) 6.5% of the next [$4,000] $5,500 of combined income; and 17
77	77
78	78	(iv) 9% of the combined income over [$16,000] $22,500. 18
79	79
80	80	(j) (1) A property tax credit under this section may not be granted to a 19
81	81	homeowner whose combined net worth exceeds [$200,000] $438,000 as of December 31 of 20
82	82	the calendar year that precedes the year in which the homeowner applies for the property 21
83	83	tax credit or whose combined gross income exceeds [$60,000] $85,000 in that same 22
84	84	calendar year. 23
85	85
86	86	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect June 24
87	87	1, 2022, and shall be applicable to all taxable years beginning after June 30, 2022. 25