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Ch. 510
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2000 LAWS OF MARYLAND
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CHAPTER 510
(Senate Bill 240)
AN ACT concerning
Income Tax - Earned Income Credit
FOR the purpose of altering for a certain taxable year the percentage of the federal
earned income credit used for determining the amount that certain individuals
may claim as a refundable credit under certain circumstances; authorizing the
counties and Baltimore City to make the county earned income credit refundable
under certain circumstances; providing for the application of this Act; providing
for the construction of this Act; and generally relating to the earned income
credit allowed under the Maryland income tax.
BY repealing and reenacting, with amendments,
Article - Tax - General
Section 10-704(b)(2)
Annotated Code of Maryland
(1997 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Tax - General
10-704.
(a) (1) An individual may claim a credit against the State income tax for a
taxable year in the amount determined under subsection (b) of this section for earned
income.
(2) An individual may claim a credit against the county income tax for a
taxable year in the amount determined under subsection (c) of this section for earned
income.
(b) (1) Except as provided in paragraph (2) of this subsection and subject to
subsection (d) of this section, the credit allowed against the State income tax under
subsection (a)(1) of this section is the lesser of:
(i) 50% of the earned income credit allowable for the taxable year
under § 32 of the Internal Revenue Code; or
(ii) the State income tax for the taxable year.
(b) (2) [(i)] An individual with one or more dependents that may be claimed
as exemptions may claim a refund in the amount, if any, by which [the applicable
percentage specified in subparagraph (ii) of this paragraph] 15% of the earned income
credit allowable under § 32 of the Internal Revenue Code exceeds the State income
tax for the taxable year.
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- 2738 -
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