Maryland HB2 modifies the subtraction for retirement income of public safety employees under the state income tax.

Maryland HB2 modifies the subtraction for retirement income of public safety employees under the state income tax. The bill increases the subtraction amount from $15,000 to $20,000 for income from an employee retirement system attributable to service as a public safety employee. This change applies to individuals who are at least a certain age on the last day of the taxable year. The bill repeals and reenacts certain sections of the Annotated Code of Maryland without amendments and with amendments to other sections.

Maryland HB2 modifies the subtraction for retirement income of public safety employees under the state income tax.

Maryland HB2 modifies the subtraction for retirement income of public safety employees under the state income tax. The bill increases the subtraction amount from $15,000 to $20,000 for income from an employee retirement system attributable to service as a public safety employee. This change applies to individuals who are at least a certain age on the last day of the taxable year. The bill repeals and reenacts certain sections of the Annotated Code of Maryland without amendments and with amendments to other sections.