File Code: Income
Prior Year Introduction As: SB 310/98 - B&T
Crossfiled with: SENATE BILL 284
- Sponsored By:
-
Delegates Hixson and Barve
- Entitled:
-
Qualified Capital Gains - Maximum Tax
Allowing a credit against the Maryland individual income tax to limit
to $65,000 the amount of State income tax payable for any taxable year
by an individual on qualified capital gain income, as defined, subject
to a requirement that the income be reinvested in a qualified
distressed county in a certain manner; requiring the Department of
Business and Economic Development and the Comptroller to provide
certain certifications; etc.
House Action
- 2/11
- First Reading Ways and Means
- 2/24
- Hearing 3/11 at 1:00 p.m.
- 3/29
- Favorable with Amendments Report by Ways and Means
- 3/27
- Favorable with Amendments Report Adopted
- Special Order next session (Delegate Flanagan) Adopted
- 3/28
- Floor Amendment (Delegate Flanagan) Rejected (41-85)
- Second Reading Passed with Amendments
- 3/29
- Third Reading Failed (68-66)
Senate Action
- No Action
- Sponsored by:
- Delegate Sheila Ellis Hixson, District 20
- Delegate Kumar P. Barve, District 17
- Bill indexed under the following Subjects:
- BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF
- COMMERCE AND BUSINESS -see also- ENTERPRISE ZONES;SMALL BUS.
- COMPTROLLER
- COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES
- INCOME TAX
- INDUSTRY AND TECHNOLOGY
- REVENUE AND TAXES -see also specific taxes-
- TAX CREDITS -see also- CIRCUIT BREAKER
- WORK, LABOR AND EMPLOYMENT -see also- LEAVE; O.T.; SALARIES.
- Bill affects the following Statutes:
- Tax - General
- (
10-706 ,
10-712
)
- Bill Text:
First Reading (PDF),
Third Reading (PDF), Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
- House
- Number: 225358/1 (PDF) Offered on: March 29, 1999 at:
4:01 p.m. Status: Adopted
- Number: 833419/1 (PDF) Offered on: March 29, 1999 at:
7:45 p.m. Status: Rejected
- Roll Call Votes (Legislative dates are shown):
- House
- March 28, 1999: Floor Amendment (Flanagan) {833419/1 Rejected (41-85)
- March 29, 1999: Third Reading Failed (68-66)