As the General Assembly session moves into its final two weeks, the House and Senate must hash out the differences in their spending plans. The Senate, who approved its $63.1 billion version of the budget two weeks ago, used larger than expected capital gains taxes to offset the recent revenue write down, covered a $236 [...]
Executive and legislative leadership broached the hard subjects of potential tax increases, budget cuts, cost shifts, and other tough decisions that will need to be made as the state faces a structural budget shortfall at the 2024 MACo Winter Conference last week. An article in Maryland Matters offers key insights and quotes from the presentation. [...]
A recent report released by the Department of Legislative Services indicates a looming budget deficit largely created by legislation passed during the most recent 90-day legislative session. The deficit projected in the report for fiscal 2028 exceeds $1 billion. From a Maryland Matters article, It is now projected that the fiscal 2025 budget will start [...]
The Department of Legislative Services recently released the 2023 Joint Chairmen's Report summarizing final budget actions taken on the State's operating and capital budget by the Senate Budget and Taxation Committee and the House Appropriations Committee. House Bill 200 is the State operating budget, making appropriations for support of the State government, for aid to [...]
In Governor Moore's first press conference as he took office last week, he announced the release of $69 million in funding approved by the General Assembly, but withheld by the administration of former Governor Hogan. These funds will be used for several initiatives approved by the General Assembly in the fiscal year 2023 budget: $9 [...]
Anne Arundel County Circuit Court Judge Alison Asti held during an October 17 motions hearing in Comcast v. Comptroller that the state's tax violates the Internet Tax Freedom Act, the federal commerce clause, and the first amendment. Judge Asti concluded that digital advertising is similar to traditional advertising, finding that the tax was discriminatory under [...]
Governor Larry Hogan announced $7.5 million in funding to law enforcement agencies in Police Accountability, Community, and Transparency (PACT) grants. The grants will be administered by the Governor’s Office of Crime Prevention, Youth, and Victim Services and will help provide funding for more body cameras, de-escalation training, and other critical tools to enhance community relationship [...]
The Report on the Fiscal 2023 State Operating Budget (SB 290) and the State Capital Budget (SB 291) and Related Recommendations, otherwise known as the “Joint Chairmen’s Report,” is now available on the General Assembly website. This report summarizes the final actions taken by the Senate Budget and Taxation Committee and the House Appropriations Committee [...]
The Maryland General Assembly passed a $61 billion budget Friday that includes expansions of health care services, funding for public education, and tax cuts on baby products and other health care items, as well as for retirees in Maryland. Governor Hogan signed the tax cuts in a bill signing ceremony alongside President Ferguson, Speaker Jones, [...]
The Board of Revenue Estimates voted to increase the revenue projections for the current and upcoming fiscal years by $1.6 billion. The Board - comprised of Comptroller Peter Franchot, Treasurer Dereck Davis and State Budget Secretary David Brinkley - increased the state’s tax revenue projection for the current fiscal year to $22.5 billion, an $867 [...]
