Maryland HB1573 makes the credit for small political contributions refundable and sets limits on the credit amount.

Maryland HB1573 amends the state income tax to allow a refundable credit for small political contributions. The credit is limited to $50 for individuals and $100 for married couples filing jointly. If the credit exceeds the state income tax owed, the taxpayer can claim a refund for the excess. The credit is applicable to taxable years beginning after December 31, 2025, and before January 1, 2031, and will be automatically abrogated by June 30, 2032. The Comptroller must report annually on the credit, including the number of taxpayers who have claimed it.

Maryland HB1573 makes the credit for small political contributions refundable and sets limits on the credit amount.

Maryland HB1573 amends the state income tax to allow a refundable credit for small political contributions. The credit is limited to $50 for individuals and $100 for married couples filing jointly. If the credit exceeds the state income tax owed, the taxpayer can claim a refund for the excess. The credit is applicable to taxable years beginning after December 31, 2025, and before January 1, 2031, and will be automatically abrogated by June 30, 2032. The Comptroller must report annually on the credit, including the number of taxpayers who have claimed it.