2006 Regular Session

SENATE BILL 590

File Code: Taxes - Income
Sponsored By:
Senators Frosh, Britt, Conway, Dyson, Green, Grosfeld, Kelley, Pinsky, and Teitelbaum
Entitled:
Windfall Oil Profits Tax - Energy-Saving Investment Program

Synopsis:

Imposing a 50% tax on the specified excess profits of specified corporations engaged in the business of producing, refining, distributing, or marketing petroleum products; establishing an Energy-Saving Investment Program administered by the Maryland Energy Administration and consisting of energy efficiency programs; providing for distribution of the revenues from the windfall oil profits tax to a special fund to be used for the Energy-Saving Investment Program; etc.

History by Legislative Date

Senate Action
2/3
First Reading Budget and Taxation
3/1
Hearing 3/14 at 1:00 p.m.
House Action
No Action

Sponsored by:

Senator Brian E. Frosh, District 16
Senator Gwendolyn Britt, District 47
Senator Joan Carter Conway, District 43
Senator Roy P. Dyson, District 29
Senator Leo E. Green, District 23
Senator Sharon M. Grosfeld, District 18
Senator Delores G. Kelley, District 10
Senator Paul G. Pinsky, District 22
Senator Leonard H. Teitelbaum, District 19

Bill indexed under the following Subjects:

ADMINISTRATIVE AGENCIES -see also- ELECTRONIC GOVERNMENT
COMMITTEES AND COMMISSIONS -see also- POLITICAL COMMITTEES
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
ENERGY MATTERS -see also- FUEL; POWER PLANTS; SOLAR ENERGY
FUEL -see also- COAL
INCOME TAX
REPORTS
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
RULES AND REGULATIONS
SUNSET
UTILITIES -see also- HIGH VOLTAGE LINES; TELEPHONES; WATER

Bill affects the following Statutes:

Public Utility Companies
( 7-801 , 7-802 , 7-803 , 7-804 , 7-805 , 7-806 , 7-807 , 7-808 )
Tax - General
( 1-615 , 2-613.1 , 2-614 , 10-101 , 10-102.2 )

Documents:

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