Taxes and Fiscal Planning Workgroup

 

The Taxes and Fiscal Planning Workgroup is responsible for issues relating to the State budget, State and local taxation, State debt, revenue forecasting, pensions, personnel, horse racing, and gaming.  Major policy areas covered by the workgroup include:

 

State, County, and Municipal Taxation

Horse Racing

State and Local Budgetary Matters

Local Gaming Activities

Revenue Forecasting

State Personnel

Video Lottery Terminals and Slot Machines

State Employee and Retiree Pension and Health Care

State Lottery

State Debt Policy

 

Each year the workgroup publishes several reports pertaining to fiscal issues for State and local governments in Maryland.  The Tax Guide report provides updated information on State revenues and State and local taxes.

 

In addition, the workgroup conducts research and produces policy reports in subject areas that have become a topic of interest to the General Assembly.  Recent examples include the Legislators’ Guide to Video Lottery Terminal Gambling report, first published in 2004 and updated in 2009, which focuses on the policy and revenue issues related to video lottery terminal gaming in Maryland and other states; and the Impact of the Federal Government on Maryland’s Economy report, which discusses the numerous ways that the federal government impacts Maryland’s economy.

 

The workgroup also examines State personnel issues, including pension and health care costs.  The State Personnel Dashboard shows key data that is used to monitor personnel, pension, and health care costs issues.  The work of the Public Employee’s and Retirees’ Benefit Sustainability Commission, enacted in Section 46 of Chapter 484, Acts of 2010, is coordinated by the workgroup.

 

State debt policy issues are also examined.  Each year the workgroup publishes the Effect of Long-term Debt on the Financial Condition of the State report which provides an overview of State debt.  The report examines long-term issuance trends, analyzes the cost of State debt, and projects the effect of current authorizations on out-year debt service expenditures.

 

 

Annual Reports

Tax Guide

Effect of Long-term Debt on the Financial Condition of the State (November 2013)

Joint Committee on Pensions - 2013 Interim Report (January 2014)

 

 

Special Reports

Legislators’ Guide to Video Lottery Terminal Gambling (December 2008)

Impact of the Federal Government on Maryland’s Economy

Understanding the Global Financial Crisis and Its Impact on Maryland (October 2008)

Annual State Retirement and Pension System's Investment Overview (November 2013)

Economic Impacts of Reducing the Maryland Corporate Income Tax Rate (October 2013)

Evaluation of the One Maryland Economic Development Tax Credit (August 2014)

Evaluation of the Enterprise Zone Tax Credit (August 2014)

 

 

Data Dashboards

 

 

Commission Briefings

Public Employees' and Retirees’ Benefit Sustainability Commission

Overview of Maryland's Estate and Inheritance Taxes (October 2013)