1999 Regular Session

SENATE BILL 284

File Code: Income Prior Year Introduction As: SB 310/98 - B&T Crossfiled with: HOUSE BILL 539
Sponsored By:
Senator Hoffman
Entitled:
Qualified Capital Gains - Maximum Tax

Synopsis:

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; providing that the county income tax is based on the State income tax determined after application of the credit; and applying the Act to tax years after 1998.

History by Legislative Date

Senate Action
2/4
First Reading Budget and Taxation
2/10
Hearing 2/24 at 1:30 p.m.
4/5
Unfavorable Report by Budget and Taxation
House Action
No Action
Bill indexed under the following Subjects:
COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES
INCOME TAX
REVENUE AND TAXES -see also specific taxes-
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statutes:
Tax - General
( 10-706 , 10-712 )

Documents:

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

Amendments: None offered