HOUSE BILL 444

Sponsored By:

The Speaker (By Request - Administration) and Delegates Afzali, Bohanan, Cane, Clagett, Conway, Glass, Hershey, Hough, Jacobs, Jameson, A. Kelly, Krebs, Lafferty, Love, Luedtke, McComas, Murphy, Otto, Parrott, Ready, Schulz, Boteler, Cardin, Frick, George, Howard, Ivey, Kaiser, A. Miller, Myers, Ross, Serafini, Stukes, Summers, F. Turner, and Walker

Entitled:

Family Farm Preservation Act of 2012

Synopsis:

Altering the determination of the Maryland estate tax under specified circumstances to exclude from the value of the gross estate up to $5,000,000 of the value of qualified agricultural property; providing that the Maryland estate tax on qualified agricultural property may not exceed 5% of the value of specified agricultural property exceeding $5,000,000; providing for the recapture of specified Maryland estate tax under specified circumstances; requiring the Comptroller to adopt specified regulations; etc.

History by Legislative and Calendar Date

House Action

2/1

First Reading Ways and Means

2/3

Hearing 2/14 at 1:00 p.m.

4/6

Favorable with Amendments Report by Ways and Means

4/1

Favorable with Amendments {565666/1 Report Adopted

Second Reading Passed with Amendments

4/2

Third Reading Passed (132-0)

4/6

Returned Passed

Senate Action

4/1

First Reading Senate Rules

4/7

Re-referred Budget and Taxation

4/9

Favorable Report by Budget and Taxation

4/4

Favorable Report Adopted

Second Reading Passed

4/5

Third Reading Passed (47-0)

Action after passage in House and Senate

5/22

Approved by the Governor

- Chapter 449

Sponsored by:

Speaker, The

Administration

Delegate Kathy Afzali, District 4A

Delegate John L. Bohanan, Jr., District 29B

Delegate Joseph C. Boteler, III, District 8

Delegate Rudolph C. Cane, District 37A

Delegate Jon S. Cardin, District 11

Delegate Galen R. Clagett, District 3A

Delegate Norman H. Conway, District 38B

Delegate C. William Frick, District 16

Delegate Ron George, District 30

Delegate Glen Glass, District 34A

Delegate Stephen S. Hershey, Jr., District 36

Delegate Michael J. Hough, District 3B

Delegate Carolyn J. B. Howard, District 24

Delegate Jolene Ivey, District 47

Delegate Jay A. Jacobs, District 36

Delegate Sally Jameson, District 28

Delegate Anne R. Kaiser, District 14

Delegate Ariana B. Kelly, District 16

Delegate Susan W. Krebs, District 9B

Delegate Stephen W. Lafferty, District 42

Delegate Mary Ann E. Love, District 32

Delegate Eric G. Luedtke, District 14

Delegate Susan K. McComas, District 35B

Delegate Aruna Miller, District 15

Delegate Peter Murphy, District 28

Delegate LeRoy E. Myers, Jr., District 1C

Delegate Charles J. Otto, District 38A

Delegate Neil Parrott, District 2B

Delegate Justin Ready, District 5A

Delegate Justin D. Ross, District 22

Delegate Kelly Schulz, District 4A

Delegate Andrew A. Serafini, District 2A

Delegate Melvin L. Stukes, District 44

Delegate Michael G. Summers, District 47

Delegate Frank S. Turner, District 13

Delegate Jay Walker, District 26

Bill indexed under the following Subjects:

Agriculture -see also- Farmland

Comptroller

Death -see also- Advance Medical Directives; Wrongful Death.

Equipment -see also- Motor Vehicle Equipment

Estates and Trusts

Exemptions

Farmland

Revenue and Taxes -see also- Dev Fees &Taxes; specific tax

Rules and Regulations

Bill affects the following Statute:

Tax - General

( 7-309 )

Documents

Bill Text: First Reading, Third Reading, Enrolled, Chapter

Fiscal and Policy Note: Available

Amendments:

House

Number: 565666/01     Offered on: April 6, 2012   at: 11:32 a.m.     Status: Adopted

Committee Votes :

House

Ways and Means

Senate

Budget and Taxation

Roll Call Votes (Legislative dates are shown):

House

April 2, 2012: Third Reading Passed (132-0)

Senate

April 5, 2012: Third Reading Passed (47-0)