HB 1238 — Maryland

Taxation - Ultra-High-Net-Worth Individual Surtax and Wealth Tax

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.

Latest action: Hearing 3/05 at 1:00 p.m. · Feb 12, 2026

In committeeBudget and Management, Department ofBudgetsClimate ResiliencyCommerce and BusinessCommunity Facilities and ServicesComptrollerDisclosureEducationElectronic GovernmentEnvironmental MattersEstates and TrustsFederal AidGrantsHealth OccupationsHousingIncome TaxInstallment PaymentsInterestInvestmentsMental and Behavioral HealthPersonal PropertyPublic InformationReal PropertyResidencyRevenue and TaxesRules and RegulationsSecuritiesSmall BusinessSunsetTax ReturnsTaxes - IncomeTaxes - MiscellaneousTimeWork, Labor, and Employment

Synopsis written by the legislature's own staff, as published on the official bill page. Status label is derived from the recorded actions. The full text below is the record.

Committees: Ways and Means (House of Delegates)

Updated Mar 17, 2026

Timeline

First Reading Ways and Means
Feb 11, 2026 · House of Delegates
Hearing 3/05 at 1:00 p.m.
Feb 12, 2026 · House of Delegates

Sponsored by Gabriel Acevero, Marlon Amprey, Kent Roberson, Jamila Woods, Caylin Young, Martinez

No recorded floor votes yet.

Fiscal and Policy Note — official analysis by legislative staff (PDF) Bill text (First reading) — Maryland General Assembly (PDF) Official record — Maryland General Assembly bill page

Official records. Maryland legislators, bills and roll-call votes from the Maryland General Assembly, imported through Open States on Oct 27, 2026 (partial import — not yet the full session). Accuracy review against the official site is still under way. Campaign-finance records for Maryland are not imported yet.