1999 Regular Session

SENATE BILL 562

File Code: Income Crossfiled with: HOUSE BILL 840
Sponsored By:
Senators Hogan, Lawlah, Neall, Astle, DeGrange, Roesser, Baker, Dyson, Bromwell, Munson, Haines, Jacobs, Hooper, Madden, Hafer, Harris, Mooney, Colburn, Stoltzfus, and McCabe
Entitled:
Income Tax Reduction

Synopsis:

Reducing the top marginal tax rate under the Maryland State income tax on individuals to 4.8% for tax year 1999 and to 4.75% for tax years 2000 and 2001; increasing the amount that an individual may deduct for specified exemptions to determine Maryland taxable income to $2,100 for tax year 1999 and to $2,400 for tax years 2000 and 2001; reducing the maximum amount of a subtraction allowed for two-income married couples to $1,125 for tax year 1999 and to $1,105 for tax years 2000 and 2001; etc.

History by Legislative Date

Senate Action
2/5
First Reading Budget and Taxation
2/10
Hearing 2/24 at 1:30 p.m.
House Action
No Action
Sponsored by:
Senator Patrick J. Hogan, District 39
Senator John C. Astle, District 30
Senator Walter M. Baker, District 36
Senator Thomas L. Bromwell, District 8
Senator Richard F. Colburn, District 37
Senator James E. DeGrange, Sr., District 32
Senator Roy P. Dyson, District 29
Senator John J. Hafer, District 1
Senator Larry E. Haines, District 5
Senator Andrew P. Harris, District 9
Senator J. Robert Hooper, District 35
Senator Nancy Jacobs, District 34
Senator Gloria Lawlah, District 26
Senator Martin G. Madden, District 13
Senator Christopher J. McCabe, District 14
Senator Alexander X. Mooney, District 3
Senator Donald F. Munson, District 2
Senator Robert R. Neall, District 33
Senator Jean W. Roesser, District 15
Senator J. Lowell Stoltzfus, District 38
Bill indexed under the following Subjects:
EXEMPTIONS
INCOME TAX
Bill affects the following Statutes:
Tax - General
( 10-105 , 10-207 , 10-211 )

Documents:

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

Amendments: None offered