PARRIS N. GLENDENING, Governor                                    Ch. 4

10-204.

(a) To the extent excluded from federal adjusted gross income, the amounts
under this section are added to the federal adjusted gross income of a resident to
determine Maryland adjusted gross income.

(II) (1) THIS SUBSECTION APPLIES FOR ANY TAXABLE YEAR ONLY IF;

(I) ON OR AFTER JULY 1, 1997, THE INTERNAL REVENUE CODE IS
AMENDED SO AS TO:

1. ALTER THE TREATMENT OF CAPITAL GAINS AND LOSSES
UNDER THIS TITLE;

2. ALTER THE TREATMENT OF INDIVIDUAL RETIREMENT
ACCOUNTS UNDER THIS TITLE OR ESTABLISH OR ALTER THE TREATMENT OF
OTHER TAX FAVORED SAVINGS ACCOUNTS; OR

3. ALTER THE TREATMENT OF HIGHER EDUCATION AND
TRAINING EXPENSES UNDER THIS TITLE; AND

(II) ON OR BEFORE JULY 1 OF THE TAXABLE YEAR, THE
COMPTROLLER DETERMINES THAT THE CHANGES TO THE INTERNAL REVENUE
CODE DESCRIBED IN ITEM (I) OF THIS PARAGRAPH WILL HAVE A NET NEGATIVE
EFFECT ON THE STATE'S INCOME TAX REVENUE FOR THAT TAXABLE YEAR.

(2) IF THIS SUBSECTION APPLIES FOR THE TAXABLE YEAR, THE
ADDITION UNDER SUBSECTION (A) OF THIS SECTION INCLUDES THE AMOUNT, IF
ANY, BY WHICH THE INDIVIDUAL'S FEDERAL ADJUSTED GROSS INCOME,
DETERMINED IN ACCORDANCE WITH THE INTERNAL REVENUE CODE AS IT WAS IN
EFFECT BEFORE THE EFFECTIVE DATE OF ANY CHANGE DESCRIBED IN PARAGRAPH
(1) OF THIS SUBSECTION, EXCEEDS THE INDIVIDUAL'S ACTUAL FEDERAL ADJUSTED
GROSS INCOME.

10-211.

(A) [Whether] SUBJECT TO SUBSECTION (B) OF THIS SECTION, WHETHER or
not a federal return is filed, to determine Maryland taxable income, an individual other
than a fiduciary may deduct as an exemption:

(1) $1,200 for each exemption that the individual may deduct in the taxable
year to determine federal taxable income under § 151 of the Internal Revenue Code;

(2) an additional $1,200 for each dependent, as defined in § 152 of the
Internal Revenue Code, who is at least 65 years old on the last day of the taxable year;

(3) an additional $1,000 if the individual, on the last day of the taxable year,
is at least 65 years old; and

(4) an additional $1,000 if the individual, on the last day of the taxable year;
is a blind individual, as described in § 10-208(c) of this subtitle.

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