ANNAPOLIS, MD – Governor Larry Hogan today announced several key bills he signed into law following the 2015 legislative session, including the repeal of the rain tax, will take effect today, July 1. The repeal of the rain tax, SB 863, was one of several bills initially proposed by the Hogan Administration during the 2015 General Assembly. This bill revokes the requirement that forced local jurisdictions to mandate an increase in taxes for the collection of a storm water remediation fee.
“Our citizens made it perfectly clear that taxing struggling and already overtaxed Marylanders for the rain that falls on the roof of their homes was a mistake that needed to be corrected,” said Governor Hogan. “And today, I can finally declare that the most universally detested tax throughout the state has come to an end.”
The governor also announced that tax relief for retired military would also go into effect today. SB 592, which was introduced by the Hogan administration, increases the existing military retirement income tax exemption to $10,000 from the previous exemption of $5,000.
“Under this law, our veterans will be taxed less, which not only honors our men and women in uniform for their service and sacrifice, but also encourages more people to live and retire in our state,” said Governor Hogan.
The following bill also becomes law today:
HB 485, Election Law – Fair Campaign Financing Fund – Income Tax Checkoff, directs the Comptroller to restore the check-off on state income tax return forms to allow an individual or couple to contribute up to $500 to be designated as a contribution to the Fair Campaign Financing Fund. The legislation also directs that any fines and penalties assessed under Maryland’s election code also be appropriated into the Fair Campaign Financing Fund to be used to support the Maryland public campaign financing law.