File Code: Income
Crossfiled with: HOUSE BILL 502
- Sponsored By:
-
The President (Administration) and Senators Baker, Amoss, Lawlah,
Jimeno, Astle, Bromwell, Collins, Stone,
Hollinger, McFadden, Kasemeyer, Neall, and
Munson
- Entitled:
-
1997 Tax Reduction Act
Reducing the top marginal State income tax rate on individuals to
4.95% for the tax year 1998, 4.9% for tax year 1999, 4.85% for tax
year 2000, 4.8% for tax year 2001, and 4.75% for tax years after 2001;
altering the amount that an individual may deduct for specified
exemptions to determine Maryland taxable income for purposes of the
State income tax; altering the maximum amount of a specified
subtraction modification for two-income married couples filing joint
returns; altering the calculation of the county income tax; etc.
Senate Action
- 1/17
- First Reading Budget and Taxation
- 1/29
- Hearing 2/19 at 1:00 p.m.
- 1/30
- Hearing cancelled
- Hearing 2/19 at 1:30 p.m.
- 3/28
- Favorable with Amendments Report by Budget and Taxation
- Favorable with Amendments Report Adopted
- Floor Amendment (Senator Pinsky) Rejected (7-36)
- Floor Amendment (Senator Boozer) Withdrawn
- Floor Amendment (Senator Boozer) Rejected (21-23)
- Floor Amendment (Senator Van Hollen) Rejected (12-35)
- Second Reading Passed with Amendments
- 3/31
- Third Reading Passed (42-5)
House Action
- 3/28
- First Reading Ways and Means
- 4/1
- Hearing 4/2 at 1:00 p.m.
- Sponsored by:
- President of the Senate
- Administration
- Senator William H. Amoss, District 35
- Senator John C. Astle, District 30
- Senator Walter M. Baker, District 36
- Senator Thomas L. Bromwell, District 8
- Senator Michael J. Collins, District 6
- Senator Paula Colodny Hollinger, District 11
- Senator Philip C. Jimeno, District 31
- Senator Edward J. Kasemeyer, District 12
- Senator Gloria Gary Lawlah, District 26
- Senator Nathaniel J. McFadden, District 45
- Senator Donald F. Munson, District 2
- Senator Robert R. Neall, District 33
- Senator Norman R. Stone, Jr., District 7
- Bill indexed under the following Subjects:
- COMPTROLLER
- COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES
- EQUIPMENT -see also- MOTOR VEHICLE EQUIPMENT
- EXEMPTIONS
- FORMS
- INCOME TAX
- INDUSTRY AND TECHNOLOGY
- MUNICIPAL CORPORATIONS
- SALES AND USE TAX
- SPECIAL TAX DISTRICTS
- TAX CREDITS
- Bill affects the following Statutes:
- Tax - General
- (
2-104 ,
2-607 ,
10-102.1 ,
10-103 ,
10-105 ,
10-106 ,
10-106 ,
10-207 ,
10-211 ,
10-604 ,
10-706 ,
10-908 ,
11-101 ,
11-107 ,
11-210
)
- Bill Text:
- First Reading (PDF),
Third Reading (PDF), Enrolled
- Fiscal Note:
Available (PDF)
Amendments:
- Senate
- Number: 532895/1 (PDF) Offered on: MARCH 28, 1997 at: 12:07
Status: Rejected
- Number: 562196/1 (PDF) Offered on: MARCH 28, 1997 at: 11:28
Status: Rejected
- Number: 609702/1 (PDF) Offered on: MARCH 28, 1997 at: 10:57
Status: Adopted
- Number: 922490/2 (PDF) Offered on: MARCH 28, 1997 at: 12:06
Status: Rejected
- Number: 982898/1 (PDF) Offered on: MARCH 28, 1997 at: 11:45
Status: Withdrawn