HEARING ALERT: The RELIEF Act of 2021
“It is clear to all of us that the primary focus of the 2021 legislative session must be providing additional, immediate emergency relief to the hundreds of thousands of struggling families and the tens of thousands of small businesses that have been impacted by the pandemic.” -Governor Larry Hogan
Today at 1 p.m., the Senate Budget and Taxation Committee will hold a hearing on SB 496, the RELIEF Act of 2021, an emergency legislative package that will provide more than $1 billion in direct stimulus and tax relief for Maryland working families, small businesses, and those who have lost their jobs as a result of the COVID-19 pandemic. This legislation builds on the more than $700 million in emergency economic relief that the governor has already announced.
This emergency legislation:
- Provides direct stimulus payments for low-to-moderate income Marylanders, with benefits of up to $750 for families and $450 for individuals.
- Repeals all state and local income taxes on unemployment benefits, providing further support and assistance for Marylanders who have lost their jobs.
- Supports small businesses with sales tax credits of up to $3,000 per month for four months—for a total of up to $12,000—freeing-up much needed resources to protect payrolls.
- Extends unemployment tax relief for small businesses, staving off sudden and substantial tax hikes in 2021.
- Safeguards Maryland businesses against any tax increase triggered by the use of state loan or grant funds.