HOUSE BILL 1435

File Code: Taxes - Income

Sponsored By:

Delegate Flanagan

Entitled:

General Fund Surplus - Return to Taxpayers

Synopsis:

Requiring the Governor to report to the General Assembly and the Comptroller by September 1 of each year as to actual general revenues, expenditures, the balance for the preceding fiscal year, and the balance in the Revenue Stabilization Fund as of the end of the fiscal year; requiring a general fund surplus, as defined, to be returned to individual income taxpayers by means of a State income tax credit calculated on an applicable percentage determined by the Comptroller under specified circumstances; etc.

History by Legislative Date

House Action

3/17

First Reading House Rules and Executive Nominations

Motion Rules Suspended for late introduction (Delegate Flanagan) Adopted (101-23)

Referred House Rules and Executive Nominations

Senate Action

No Action

Bill indexed under the following Subjects:

BUDGETS -see also- CAPITAL BUDGETS

GOVERNOR

INCOME TAX

REPORTS

REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.

TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statute:

Tax - General

( 10-718 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Not available at this time

Amendments: None offered

Roll Call Vote (Legislative date is shown):

House

March 17, 2000: Motion Rules Suspended for late introduction (Flanagan) Adopted (101-23)