1999 Regular Session

SENATE BILL 421

File Code: Income Crossfiled with: HOUSE BILL 4
Sponsored By:
Senators Hafer, Stoltzfus, Blount, Colburn, and Sfikas
Entitled:
One Maryland Economic Development Program for Distressed Counties - Tax Credits

Synopsis:

Allowing credits against insurance premium tax, the financial institution franchise tax, and the State income tax for specified costs of eligible economic development projects undertaken by qualified business entities in qualified economically distressed counties and specified start-up costs of qualified business entities locating in qualified economically distressed counties; applying the Act to tax years after December 31, 1999; etc.

History by Legislative Date

Senate Action
2/5
First Reading Budget and Taxation
2/8
Hearing 2/17 at 1:30 p.m.
3/25

Favorable with Amendments Report by Budget and Taxation
3/26
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/29
Third Reading Passed (46-0)
House Action
3/29
First Reading Ways and Means
3/30
Hearing 4/1 at 1:00 p.m.
Sponsored by:
Senator John J. Hafer, District 1
Senator Clarence W. Blount, District 41
Senator Richard F. Colburn, District 37
Senator Perry Sfikas, District 46
Senator J. Lowell Stoltzfus, District 38
Bill indexed under the following Subjects:
BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF
COMMERCE AND BUSINESS -see also- ENTERPRISE ZONES;SMALL BUS.
COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES
FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO; CREDIT U
FRANCHISES
INCOME TAX
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
REVENUE AND TAXES -see also specific taxes-
RULES AND REGULATIONS
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statutes:
Article - 83A Department of Business and Economic Development
( 5-1301 )
Insurance
( 6-119 )
Tax - General
( 8-220 , 10-712 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
Senate
Number: 489620/1 (PDF)     Offered on: March 26, 1999   at: 12:43 p.m.     Status: Adopted
Roll Call Vote (Legislative date is shown):
Senate
March 29, 1999: Third Reading Passed (46-0)