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PARRIS N. GLENDENING, Governor Ch. 440
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SECTION 15. AND BE IT FURTHER ENACTED, That Section(s) 10-221 of
Article - Tax - General of the Annotated Code of Maryland be renumbered to be
Section(s) 10-108.
SECTION 16. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article - Tax - General
10-108.
(a) [Unless] EXCEPT AS PROVIDED IN SUBSECTION (C) OF THIS SECTION AND
UNLESS expressly provided otherwise by law, an amendment of the Internal Revenue
Code that, [during the] FOR A taxable year THAT BEGINS IN THE CALENDAR YEAR in
which the amendment is enacted, eliminates [or reduces], REDUCES, ADDS, OR
INCREASES a deduction [or substitutes], SUBSTITUTES a credit for a deduction, OR
SUBSTITUTES A DEDUCTION FOR A CREDIT AFFECTS THE DETERMINATION OF
FEDERAL ADJUSTED GROSS INCOME OR FEDERAL TAXABLE INCOME, does not affect
the [deduction for purposes of] DETERMINATION OF MARYLAND TAXABLE INCOME
UNDER this title [during that] FOR ANY TAXABLE year THAT BEGINS IN THE
CALENDAR YEAR IN WHICH THE AMENDMENT IS ENACTED.
(b) Within 60 days after an amendment of the Internal Revenue Code is
enacted, the Comptroller shall prepare and submit to the Governor and, subject to §
2-1246 of the State Government Article, the President of the Senate and the Speaker
of the House a report that outlines:
(1) the changes in the Internal Revenue Code; and
(2) the impact of those changes on State revenue and on various classes
and types of taxpayers.
(C) SUBSECTION (A) OF THIS SECTION DOES NOT APPLY TO AN AMENDMENT
OF THE INTERNAL REVENUE CODE IF THE COMPTROLLER DETERMINES THAT THE
IMPACT OF THE AMENDMENT ON STATE INCOME TAX REVENUE FOR THE FISCAL
YEAR THAT BEGINS DURING THE CALENDAR YEAR IN WHICH THE AMENDMENT IS
ENACTED WILL BE LESS THAN $1,000,000 $5,000,000.
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.
(H) THE ADDITION UNDER SUBSECTION (A) OF THIS SECTION INCLUDES THE
AMOUNT DEDUCTED UNDER § 222 OF THE INTERNAL REVENUE CODE FOR QUALIFIED
TUITION AND RELATED EXPENSES PAID DURING THE TAXABLE YEAR.
10-210.1.
IN ADDITION TO THE MODIFICATIONS UNDER §§ 10-204 THROUGH 10-210 OF
THIS SUBTITLE, TO DETERMINE MARYLAND ADJUSTED GROSS INCOME OF AN
INDIVIDUAL:
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- 3611 -
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