MD House Bill 2 Fiscal and Policy Note and Legislation

This bill creates a nonrefundable credit against the State income tax for up to 100% of the federal Work Opportunity Tax Credit claimed by an employer. Any unused amount of the credit may not be carried forward to any other tax year. The Department of Legislative Services (DLS) must evaluate the tax credit program and report its findings to the General Assembly by December 31, 2028. The bill takes effect July 1, 2022, and applies to tax years 2022 through 2028.