Income Tax - Individual Income Tax Credit Eligibility Awareness Campaign
Impact
If enacted, this bill would require collaboration between the Comptroller's office and other state agencies to share data responsibly to identify eligible individuals. It represents an effort to streamline and enhance access to tax credits that can provide crucial financial relief for many Maryland residents. The governor would be required to include a budget appropriation of $300,000 annually for the campaign from fiscal year 2026 through 2030, which underscores the state's commitment to this initiative.
Summary
House Bill 845 is designed to promote awareness and encourage applications for individual income tax credits among underserved individuals in Maryland. The bill mandates the Comptroller to implement an eligibility awareness campaign that identifies those potentially eligible for tax credits but who have previously failed to claim them. This initiative is seen as a measure to enhance financial support for those in need by ensuring that they take advantage of available tax credits from tax years following December 31, 2022, through to December 31, 2030.
Sentiment
The sentiment surrounding HB 845 appears generally positive, as the intent of the bill is well-received by legislators and advocates focusing on assisting underserved populations. Supporters believe that raising awareness about tax credit opportunities is a constructive step towards financial empowerment. However, there could be underlying concerns regarding the implementation of data sharing and privacy, which require careful consideration to ensure the security of individuals' personal information.
Contention
While there is broad support for the goals of the bill, potential points of contention might arise over the methods of data sharing between agencies and how effectively the campaign will reach its intended audience. Discussions may also surface regarding how the implementation will be monitored for effectiveness and to ensure that the funds appropriated are used appropriately. The success of the bill in increasing the number of claims for tax credits will likely hinge on overcoming these challenges.