2001 Regular Session

SENATE BILL 184

File Code: Taxes - Income
Sponsored By:
Senators Exum, Currie, Conway, Hughes, Kelley, Lawlah, McFadden, Mitchell, and Pinsky
Entitled:
Income Tax - State Tax Credit for Qualified Maryland Low-Income Housing

Synopsis:

Allowing a State income tax credit for a qualified Maryland low-income building that is allocated a federal low-income housing tax credit on or after January 1, 2002, in an amount equal to the amount of the federal credit allocated to the building; providing for allocation of the credit among the partners, members, or shareholders of an entity owning the Maryland low-income housing; providing for the recapture of a portion of the State income tax credit under certain circumstances; etc.

History by Legislative Date

Senate Action
1/22
First Reading Budget and Taxation
1/24
Hearing 2/7 at 1:30 p.m.
2/5
Hearing cancelled
Hearing 2/7 at 2:00 p.m.
3/20
Referred to interim study by Budget and Taxation
House Action
No Action
Sponsored by:
Senator Nathaniel Exum, District 24
Senator Joan Carter Conway, District 43
Senator Ulysses Currie, District 25
Senator Ralph M. Hughes, District 40
Senator Delores G. Kelley, District 10
Senator Gloria Lawlah, District 26
Senator Nathaniel J. McFadden, District 45
Senator Clarence M. Mitchell, IV, District 44
Senator Paul G. Pinsky, District 22
Bill indexed under the following Subjects:
COMPTROLLER
FEDERAL GOVERNMENT
HOUSING AND COMMUNITY DEVELOPMENT, DEPARTMENT OF
HOUSING -see also- APARTMENTS; CONDOMINIUMS; MOBILE HOMES
INCOME TAX
RULES AND REGULATIONS
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statute:
Tax - General
( 10-722 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered