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Ch. 552
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Martin O'Malley, Governor
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1. induction into the armed forces of the United States
for training and service under the Selective Training and Service Act of 1940 or a
subsequent act of a similar nature;
2. membership in a reserve component of the armed
forces of the United States;
3. membership in an active component of the armed
forces of the United States;
4. membership in the Maryland National Guard; or
5. [with respect to a person separated from employment
on or after July 1, 1991,] active duty with the commissioned corps of the Public Health
Service, the National Oceanic and Atmospheric Administration, or the Coast and
Geodetic Survey.
(iii) "Military retirement income" means retirement income
received as a result of military service.
(2) The subtraction under subsection (a) of this section includes the
first $5,000 of military retirement income received by an individual during the taxable
year.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2007, and shall be applicable to all taxable years beginning after December 31,
2006.
Approved by the Governor, May 17, 2007.
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CHAPTER 553
(House Bill 392)
AN ACT concerning
Income Tax - Subtraction Modification - Military Retirement Income for
Commissioned Officers
FOR the purpose of altering a certain subtraction modification under the State income
tax for certain military retirement income to include, certain individuals;
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- 3615 -
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