ANNAPOLIS, Md. (WJZ) — Gov. Larry Hogan singed the RELIEF Act of 2021 into legislation Monday afternoon in Annapolis.
This emergency laws will instantly present greater than $1 billion in tax aid and financial stimulus to Maryland households and companies struggling as a result of coronavirus pandemic.
“On account of this bipartisan laws, individuals who have misplaced their jobs won’t must pay any state and native revenue taxes on their unemployment advantages letting them hold extra money of their pockets,” Hogan stated. “Tax aid for small companies will allow them to hold as much as $9,000 of their pockets over the following 90 days in order that they’ll hold their doorways open and hold extra individuals on the payroll and small companies will now be protected in opposition to any sudden or substantial will increase of their unemployment taxes.”
The legislation will even permit the state to chop direct aid checks lots of of hundreds of Maryland households.
“This laws additionally supplies greater than $100 million in further grants to small companies and nonprofit organizations on prime of the $700 million in state financial aid that we’ve already supplied,” Hogan added.