2005 Regular Session

HOUSE BILL 219

File Code: Taxes - Property - Local
Sponsored By:
Chairman, Ways and Means Committee (By Request - Departmental - Comptroller)
Entitled:
Taxes - Electing Small Business Trusts - Federal Adjusted Gross Income

Synopsis:

Modifying the definition of federal adjusted gross income as it relates to specified fiduciaries to include the amount of income of an electing small business trust consisting of stock of one or more S corporations that is subject to specified taxing rules.

History by Legislative Date

House Action
1/24
First Reading Ways and Means
1/26
Hearing 2/8 at 11:00 a.m.
3/14
Favorable Report by Ways and Means
3/15
Favorable Report Adopted
Second Reading Passed
3/17
Third Reading Passed (134-0)
Senate Action
3/18
First Reading Budget and Taxation
3/23
Hearing 3/29 at 1:00 p.m.
4/6
Unfavorable Report by Budget and Taxation

Sponsored by:

Ways & Means Comm., Chairman
Departmental
Comptroller of MD

Bill indexed under the following Subjects:

FIDUCIARIES
INCOME TAX
SMALL BUSINESS

Bill affects the following Statute:

Tax - General
( 10-101 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered
Roll Call Vote (Legislative date is shown):
House
March 17, 2005: Third Reading Passed (134-0)