File Code: Income
Prior Year Introduction As: HB 1337/96 - W&M
- Sponsored By:
-
Delegates Schade, Redmer, Ports, Jacobs, Mossburg, and M. Burns
- Entitled:
-
Income Tax - Distributions from Qualified Retirement Plans for
Reinvestment in Small Business
Providing a subtraction modification under the Maryland individual
income tax to the extent included in federal adjusted gross income for
amounts distributed under qualified retirement plans to the extent the
individual reinvests the amount distributed in a small business in the
State; defining "small business" and "qualified retirement plan" for
purposes of the subtraction modification; and applying the Act to tax
years after 1996.
House Action
- 1/31
- First Reading Ways and Means
- 2/5
- Hearing 2/18 at 3:00 p.m.
- 3/18
- Unfavorable Report by Ways and Means
Senate Action
- No Action
- Sponsored by:
- Delegate Victoria L. Schade, District 31
- Delegate Michael W. Burns, District 32
- Delegate Nancy Jacobs, District 34
- Delegate Mathew Mossburg, District 39
- Delegate James F. Ports, Jr., District 8
- Delegate Alfred W. Redmer, Jr., District 8
- Bill indexed under the following Subjects:
- EXEMPTIONS
- INCOME TAX
- INVESTMENTS
- RETIREMENT SYSTEMS -see also- MANDATORY RETIREMENT
- SMALL BUSINESS
- Bill affects the following Statutes:
- State Government
- (
2-1505.1
)
- Tax - General
- (
10-207 ,
10-207
)
- Bill Text:
- First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
