2005 Regular Session

HOUSE BILL 322

File Code: Taxes - Income Crossfiled with: SENATE BILL 100
Sponsored By:
Delegates Krebs, Aumann, Bates, Boutin, Eckardt, Edwards, Frank, Impallaria, Jameson, McComas, McDonough, McMillan, Miller, Minnick, Myers, Shank, Shewell, Sossi, Trueschler, Weir, and Wood
Entitled:
Income Tax - Expensing of Section 179 Property

Synopsis:

Limiting to property placed in service before January 1, 2005 the applicability of modifications to federal adjusted gross income of an individual or federal taxable income of a corporation for Maryland income tax purposes to reflect the determination of the maximum aggregate costs that a taxpayer may treat as an expense under Section 179 of the Internal Revenue Code for any taxable year without regard to the changes made to that section by the federal Jobs and Growth Reconciliation Act of 2003 for federal income tax purposes; etc.

History by Legislative Date

House Action
1/27
First Reading Ways and Means
2/2
Hearing 2/16 at 1:00 p.m.
2/9
Hearing cancelled
Hearing 2/23 at 1:00 p.m.
3/14
Unfavorable Report by Ways and Means
Senate Action
No Action

Sponsored by:

Delegate Susan W. Krebs, District 9B
Delegate Susan L. M. Aumann, District 42
Delegate Gail H. Bates, District 9A
Delegate Charles R. Boutin, District 34A
Delegate Adelaide C. Eckardt, District 37B
Delegate George C. Edwards, District 1A
Delegate William J. Frank, District 42
Delegate Rick Impallaria, District 7
Delegate Sally Jameson, District 28
Delegate Susan K. McComas, District 35B
Delegate Pat McDonough, District 7
Delegate Herb McMillan, District 30
Delegate Warren E. Miller, District 9A
Delegate Joseph J. Minnick, District 6
Delegate LeRoy E. Myers, Jr., District 1C
Delegate Christopher B. Shank, District 2B
Delegate Tanya T. Shewell, District 5A
Delegate Richard A. Sossi, District 36
Delegate John G. Trueschler, District 42
Delegate Michael H. Weir, Jr., District 6
Delegate John F. Wood, Jr., District 29A

Bill indexed under the following Subjects:

CORPORATIONS -see also- MUNICIPAL CORPORATIONS
EQUIPMENT -see also- MOTOR VEHICLE EQUIPMENT
EXEMPTIONS
FEDERAL GOVERNMENT
INCOME TAX
PERSONAL PROPERTY
REAL PROPERTY

Bill affects the following Statutes:

Tax - General
( 10-210.1 , 10-310 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered