On Apr. 9, MD LEG passed bill on homeowners' property tax credit.
MD LEG passed Senate bill SB 283 on homeowners' property tax credit applications.
Repealing and reenacting MD LEG 9-104 relating to property tax credits applications.
Bill Provisions
Authorizes an applicant for homeowners' property tax credit to attest to gross income on an application in lieu of providing an income tax return under certain circumstances
Attestation of gross income if homeowner was not required to or did not file tax return.
Purchaser must file application within 7 working days after execution of sale contract.
Department may require copy of executed sale contract, shall determine amount of credit purchaser is eligible to, shall notify purchaser of decision within 5 working days.
Comptroller shall pay to the home purchaser the property tax credit due unless the credit was used to adjust the home purchaser’s final tax liability paid at settlement.
The department may accept an application within 1 year after Apr. 15 of taxable year if homeowner applying for first time or has filed an application by Oct. 1 for 3 years.
May accept application 3 years after Apr. 15 of taxable year if homeowner is at least 70 years old and was eligible for credit for taxable year for which the credit is sought.
For late applications, the department may accept an application on or before Oct. 31.
Homeowner shall be notified in writing of acceptance or rejection of a late application.
Legislative History
On Sep. 9, 2023, bill was introduced in Senate; on Feb. 20, 2024, bill passed Senate.
On Feb. 21, 2024, bill was introduced in House; on Apr. 3, 2024, bill passed in House.
On Apr. 4, 2024, returned passed; on Apr. 9, 2024, bill signed by governor, Ch. 79.
Effectiveness
Shall take effect Jun. 1, 2024, shall be applicable to all taxable years on Jun. 30, 2024.
Regulators
MD LEG
Entity Types
CNSM; Corp; MG Orig
Reference
Bill SB283, Ch. 79, 4/9/2024; Citation: MD LEG 9-104;
