Maryland HB547 modifies the income tax to include enhanced agricultural management equipment and introduces a credit for parents of stillborn.

Maryland HB547 modifies the income tax to include a subtraction for expenses related to enhanced agricultural management equipment, such as planters, drills, manure soil injection equipment, and GPS devices for nutrient management. The bill also introduces a credit for parents who have experienced the stillbirth of a child. The enhanced equipment must meet specific criteria, including a useful life of at least five years and compliance with agricultural regulations. The credit for parents of stillborn children provides a tax benefit to those who have suffered such a loss.

Maryland HB547 modifies the income tax to include enhanced agricultural management equipment and introduces a credit for parents of stillborn.

Maryland HB547 modifies the income tax to include a subtraction for expenses related to enhanced agricultural management equipment, such as planters, drills, manure soil injection equipment, and GPS devices for nutrient management. The bill also introduces a credit for parents who have experienced the stillbirth of a child. The enhanced equipment must meet specific criteria, including a useful life of at least five years and compliance with agricultural regulations. The credit for parents of stillborn children provides a tax benefit to those who have suffered such a loss.