1996 Regular Session

HOUSE BILL 1062

File Code: Taxes - Income
Sponsored By:
Delegates Busch, Hixson, Gordon, Kopp, Kach, Rawlings, Holt, Linton, and McKee
Entitled:
Maryland Major Business Facility Job Tax Credit

Synopsis:

Allowing a credit against the State income tax, financial institution franchise tax, public service company franchise tax, and insurance premiums tax for the establishment or expansion of major business facilities in the State; providing for calculation of the credit based on the number of new jobs created as a result of the establishment or expansion of the major business facility; limiting the credit allowed in any taxable year to the total tax otherwise payable for that taxable year; etc.

Legislative History

House Action
2/7
First Reading Ways and Means
2/16
Hearing 2/29 at 11:00 a.m.
3/14
Unfavorable Report by Ways and Means
Senate Action
No Action
Sponsored by:
Delegate Michael Erin Busch, District 30
Delegate Michael R. Gordon, District 17
Delegate Sheila Ellis Hixson, District 20
Delegate Kenneth Holt, District 6
Delegate A. Wade Kach, District 9A
Delegate Nancy K. Kopp, District 16
Delegate Samuel C. Linton, District 28
Delegate Robert A. McKee, District 2A
Delegate Howard P. Rawlings, District 40
Bill indexed under the following Subjects:
BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF
COMMERCE AND BUSINESS -see also- SMALL BUSINESS
COMPTROLLER
FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO, CREDIT U
FRANCHISES
INCOME TAX
INSURANCE-GENERAL
REVENUE AND TAXES - GENERAL
RULES AND REGULATIONS
TAX CREDITS
UTILITIES -see also- HIGH VOLTAGE LINES, TELEPHONES
WORK, LABOR AND EMPLOYMENT -see also- LEAVE, OVERTIME
Bill affects the following Statutes:
Article - 83A Department of Business and Economic Development
( 5-1101 , 5-1102 , 5-1103 , 5-1104 , 5-1105 , 5-1106 )
Insurance
( 6-114 )
Article - 48A Insurance Code
( 632 )
Tax - General
( 8-214 , 8-411 , 10-704.4 )

Documents:

Bill Text:
First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)

Amendments: None available