Income Tax - Subtraction Modification for Military Retirement Income (Keep Our Heroes Home Act)

HB 60 increases Maryland's tax deduction for military retirement income from current age-based limits to a flat $25,000 for 2025-2025 tax years and $40,000 for 2026 onward, removing the previous age requirement. It directly affects Maryland residents receiving military retirement pay, regardless of age. The bill modifies Section 10-207(q) of Maryland's tax code to apply this larger deduction to the first $25,000 or $40,000 of qualifying military retirement income annually. The change takes effect July 1, 2025.