HOUSE BILL 653

File Code: Taxes - Miscellaneous

Sponsored By:

Delegates Hixson, Bozman, C. Davis, Gordon, Healey, Howard, Marriott, and Patterson

Entitled:

Maryland Estate Tax - Unified Credit Effective Exemption Amount

Synopsis:

Limiting the unified credit used for determining the Maryland estate tax to the applicable credit amount corresponding to a $1,000,000 exclusion amount under the federal estate tax; requiring a person responsible for paying the inheritance tax to file an estate tax return and pay the estate tax if a federal estate tax return is not required to be filed; applying the Act to decedents dying after December 31, 2003; etc.

History by Legislative Date

House Action

2/4

First Reading Ways and Means

2/11

Hearing 2/25 at 1:00 p.m.

Senate Action

No Action

Sponsored by:

Delegate Sheila E. Hixson, District 20

Delegate K. Bennett Bozman, District 38B

Delegate Clarence Davis, District 45

Delegate Michael R. Gordon, District 17

Delegate Anne Healey, District 22

Delegate Carolyn J. B. Howard, District 24

Delegate Salima Siler Marriott, District 40

Delegate Obie Patterson, District 26

Bill indexed under the following Subjects:

ESTATES AND TRUSTS

FEDERAL GOVERNMENT

INHERITANCE TAX

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

Bill affects the following Statute:

Tax - General

( 7-309 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments: None offered