File Code: Income
Crossfiled with: HOUSE BILL 581
- Sponsored By:
-
Senator McFadden (Maryland Gives Task Force on Charitable
Giving)
- Entitled:
-
Income Tax Credit for Charitable Giving to Qualified Endowments
Allowing a State income tax credit for individuals in an amount equal
to 50% of the present value of the aggregate amount of the charitable
gift portion of a planned gift, as defined, to a qualified endowment,
as defined; allowing a State income tax credit to corporations in an
amount equal to 50% of the amount of charitable gifts to qualified
endowments; requiring an addition modification for amounts used to
calculate the credits; defining terms; applying the Act to tax years
after 1998; etc.
Senate Action
- 2/12
- First Reading Senate Rules
- 2/16
- Re-referred Budget and Taxation
- 2/24
- Hearing 3/17 at 1:30 p.m.
- 3/22
- Withdrawn
House Action
- No Action
- Sponsored by:
- Senator Nathaniel J. McFadden, District 45
- MD Gives! - T.F.on Charitable Giving
- Bill indexed under the following Subjects:
- GIFTS
- INCOME TAX
- NONPROFIT ORGANIZATIONS
- TAX CREDITS -see also- CIRCUIT BREAKER
- Bill affects the following Statutes:
- Tax - General
- (
10-205 ,
10-306 ,
10-712
)
- Bill Text:
First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
None offered