2000 Regular Session

SENATE BILL 309

CHAPTER NUMBER: 515 File Code: Taxes - Income
Sponsored By:
Senators Hogan, Neall, Lawlah, Hooper, Stoltzfus, DeGrange, Mooney, Currie, Roesser, Middleton, Hoffman, Kasemeyer, Madden, McFadden, Munson, Ruben, and Stone
Entitled:
Maryland Research and Development Tax Credit

Synopsis:

Allowing a State income tax credit in an amount equal to 3% of qualified Maryland research and development expenses, up to a specified base amount, incurred during a taxable year; allowing a credit in an amount equal to 10% of the expenses paid or incurred for Maryland research and development in excess of the base amount; providing for applications to the Department of Business and Economic Development for approval and certification of credit amounts, up to $3,000,000 total statewide for each credit; etc.

History by Legislative Date

Senate Action
2/1
First Reading Budget and Taxation
2/2
Hearing 2/23 at 1:30 p.m.
3/29
Favorable with Amendments Report by Budget and Taxation
3/30
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/31
Third Reading Passed (45-1)
4/8
Returned Passed
5/18
Signed by the Governor Chapter 515
House Action
3/29
First Reading Ways and Means
3/31
Hearing 4/5 at 1:00 p.m.
4/8
Favorable Report by Ways and Means
4/6
Favorable Report Adopted
Second Reading Passed
4/7
Third Reading Passed (128-1)
Sponsored by:
Senator Patrick J. Hogan, District 39
Senator Ulysses Currie, District 25
Senator James E. DeGrange, Sr., District 32
Senator Barbara A. Hoffman, District 42
Senator J. Robert Hooper, District 35
Senator Edward J. Kasemeyer, District 12
Senator Gloria Lawlah, District 26
Senator Martin G. Madden, District 13
Senator Nathaniel J. McFadden, District 45
Senator Thomas M. Middleton, District 28
Senator Alexander X. Mooney, District 3
Senator Donald F. Munson, District 2
Senator Robert R. Neall, District 33
Senator Jean W. Roesser, District 15
Senator Ida G. Ruben, District 20
Senator J. Lowell Stoltzfus, District 38
Senator Norman R. Stone, Jr., District 7
Bill indexed under the following Subjects:
BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF
COMPTROLLER
INCOME TAX
INDUSTRY AND TECHNOLOGY
REPORTS
RULES AND REGULATIONS
SUNSET
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statutes:
Tax - General
( 10-205 , 10-718 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
Senate
Number: 569730/1 (PDF)     Offered on: March 30, 2000   at: 11:30 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 31, 2000: Third Reading Passed (45-1)
House
April 7, 2000: Third Reading Passed (128-1)