HB0644 (CH0507)

2013 Regular Session

 

Entitled:

Income Tax - Electronic Filing - Designation to Purchase Federal Savings Bonds

Sponsored by:

Delegate Olszewski

Status:

Approved by the Governor - Chapter 507


Synopsis:Allowing an individual who files an income tax return electronically to elect to use all or a portion of the individual's income tax refund to purchase U.S. Series I Savings Bonds; specifying that the individual must make the designation in $50 increments; requiring the Comptroller to send any remaining portion of the individual's refund to the individual; requiring the Comptroller to adopt specified regulations; and applying the Act to taxable years beginning after December 31, 2014.
Analysis:Fiscal and Policy Note
All Sponsors:Delegates Olszewski, Afzali, Barve, Branch, Cardin, Dwyer, Frick, George, Harper, Hixson, Howard, Ivey, Kaiser, Luedtke, A. Miller, Myers, Serafini, Stukes, Summers, F. Turner, Walker, and A. Washington
Additional Facts:Cross-filed with: SB0613
Bill File Type: Regular
Effective Date(s): July 1, 2013
Committee(s):
Ways and Means  View Committee HearingBudget and Taxation  Listen to Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Bonds -see also- County & Baltimore City Bonds; State Bonds
Comptroller
Electronic Government
Income Tax
Rules and Regulations
Statutes:Article - Tax - General
(10-804)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


October 29, 2013 9:29 P.M.