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Governor O’Malley’s has proposed legislation for this 2012 Legislative Session of the Maryland General Assembly in the administrative budget to limit the Mortgage Interest Deduction (MID) for some Maryland households.  If this budget item is approved, it will open the possibility to eliminate the deduction for all income categories in the future!  As a homeowner, you rely on this deduction, especially while the housing market is still recovering! 

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Governor Issues Executive Order to Implement PlanMaryland

Despite opposition to PlanMaryland from a number of interest groups, including REALTORS® and local governments, Governor O’Malley signed an Executive Order which will implement PlanMaryland. The Executive Order details how the proposal will be implemented including designating the role of the Smart Growth Subcabinet. Some members of the Maryland General Assembly also remained concerned over a number of provisions included in PlanMaryland, and legislation has been prefiled that would require a state growth plan to be approved by the General Assembly before it can be implemented.