Senate Panel Modifies Hogan Tax Relief Initiatives
ANNAPOLIS, Md. (AP) - A Maryland Senate panel has voted on some of Gov. Larry Hogan's tax relief proposals.
The budget panel approved a scaled-back version of the governor's reduction in the personal property tax. It will be limited to companies with $10,000 or less in taxable personal property. Implementation has been delayed for two years.
While the panel voted against eliminating automatic gas tax increases, it decided to lower a cap for inflationary indexing from 8 percent to 3 percent.
The panel decided not to go along with Hogan's proposal to eliminate state taxes on military pensions. Instead, the committee voted to double an exemption to $10,000 for veterans 65 and older.
The committee nixed the governor's bill to exempt up to $29,000 on first responders' pensions.