2009 Regular Session

SENATE BILL 603

File Code: Taxes - Income Crossfiled with: HOUSE BILL 1244
Sponsored By:
Senators Pinsky, Frosh, Harrington, Madaleno, Raskin, and Rosapepe
Entitled:
Corporate Income Tax - Rate Reduction and Reform

Synopsis:

Setting the State corporate income tax rate for taxable years that begin in 2011 to be a specified rate determined by the Comptroller; providing for combined reporting under the corporate income tax for members of combined groups; allowing an income tax credit for specified corporations for specified taxable years; requiring the Comptroller to make specified estimates and include the estimates in a specified report; stating the intent of the General Assembly that the corporate income tax rate be permanently reduced; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
Senate Action
2/6
First Reading Budget and Taxation
2/25
Hearing 3/11 at 1:00 p.m.
House Action
No Action

Sponsored by:

Senator Paul G. Pinsky, District 22
Senator Brian E. Frosh, District 16
Senator David C. Harrington, District 47
Senator Richard S. Madaleno, Jr., District 18
Senator Jamie Raskin, District 20
Senator Jim Rosapepe, District 21

Bill indexed under the following Subjects:

Comptroller
Corporations -see also- Municipal Corps; Public Corps & Inst
General Assembly -see also- AELR Cmte; Leg Policy Committee.
Income Tax
Interstate Affairs
Legislation -see also- Corrective Leg; Curative Leg
Reports
Rules and Regulations
Tax Credits -see also- Circuit Breaker

Bill affects the following Statutes:

Tax - General
( 10-105 , 10-402.1 , 10-728 , 10-804.1 , 10-804.1 , 10-804.1 , 10-811 )

Documents:

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