1996 Regular Session

SENATE BILL 558

File Code: Taxes - Miscellaneous
Sponsored By:
The President (Administration) and Senators Amoss, Hoffman, Boozer, Munson, McFadden, Ruben, Currie, Van Hollen, Hogan, Lawlah, Middleton, and Kasemeyer
Entitled:
Jobs Creation Tax Credit Act of 1996

Synopsis:

Allowing certain credits against the State income tax, financial institution franchise tax, public service company franchise tax, and insurance premiums tax for certain business entities that establish or expand a business facility in the State; providing for the calculation of the credit; providing for certification by the Secretary of Business and Economic Development of businesses eligible for the credit; limiting the maximum credit allowed in any taxable year; etc.

Legislative History

Senate Action
2/2
First Reading Budget and Taxation
2/6
Hearing 2/9 at 1:00 p.m.
3/18
Favorable with Amendments Report by Budget and Taxation
3/19
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/21
Third Reading Passed (45-0)
3/31
Senate Refuses to Concur - House Amendments
Senate Requests House Recede
Conference Committee Appointed ...
Amoss, McFadden, Hogan
4/5
Conference Committee Report Adopted
Third Reading Passed (46-0)
Passed Enrolled
5/23
Governor vetoed - Duplicative
House Action
3/21
First Reading Ways and Means
3/22
Hearing 3/27 at 1:00 p.m.
3/29
Favorable with Amendments Report by Ways and Means
3/26
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/27
Third Reading Passed with Amendments (132-1)
3/28
House Refuses to Recede
Conference Committee Appointed ...
Healey, Rosapepe, Leopold
4/5
Conference Committee Report Adopted
Third Reading Passed (119-3)
Sponsored by:
President of the Senate
Administration
Senator William H. Amoss, District 35
Senator F. Vernon Boozer, District 9
Senator Ulysses Currie, District 25
Senator Barbara A. Hoffman, District 42
Senator Patrick J. Hogan, District 39
Senator Edward J. Kasemeyer, District 12
Senator Gloria Gary Lawlah, District 26
Senator Nathaniel J. McFadden, District 45
Senator Thomas McLain Middleton, District 28
Senator Donald F. Munson, District 2
Senator Ida G. Ruben, District 20
Senator Christopher Van Hollen, Jr., District 18
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
INTERSTATE AFFAIRS
REPORTS -see also- RECORDS
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 , 5-1102 , 5-1103 )
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 (PDF), Enrolled (PDF)
Fiscal Note: Available (PDF)

Amendments:
Senate
Number: 008390/1 (PDF) Offered on: MARCH 19, 1996 at: 11:48 Status: Adopted
House
Number: 415729/1 (PDF) Offered on: MARCH 29, 1996 at: 11:30 Status: Adopted