HB1238Introduced in the House of Delegates
Taxation - Ultra-High-Net-Worth Individual Surtax and Wealth Tax
Introduced by Gabriel Acevero, District 39
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Imposing a surtax on the Maryland taxable income of individuals with a net worth in excess of $1,000,000,000; providing for the calculation, administration, and enforcement of the surtax; imposing a one-time wealth tax on the amount by which the net worth of a Maryland resident exceeds a certain amount; providing for the calculation, administration, collection, and enforcement of the one-time wealth tax; etc.
Where it stands
Hearing 3/05 at 1:00 p.m.
February 12, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
Bill history
First Reading Ways and Means
Hearing 3/05 at 1:00 p.m.
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