2004 Regular Session

SENATE BILL 219

File Code: Taxes - Income
Sponsored By:
Senators Grosfeld, Britt, Frosh, Garagiola, Giannetti, Gladden, Jones, Pinsky, and Teitelbaum
Entitled:
Sport Utility Vehicle (SUV) Business Tax Loophole Closure Act

Synopsis:

Providing modifications to federal adjusted gross income of an individual or federal taxable income of a corporation for Maryland income tax purposes to reflect the determination of the depreciation deductions with respect to a heavy duty SUV, as defined, as if the heavy duty SUV were subject to the limitations on depreciation under { 280F of the Internal Revenue Code; and applying the Act to tax years after 2003.

History by Legislative Date

Senate Action
1/28
First Reading Budget and Taxation
2/25
Hearing 3/10 at 1:00 p.m.
House Action
No Action
Sponsored by:
Senator Sharon M. Grosfeld, District 18
Senator Gwendolyn Britt, District 47
Senator Brian E. Frosh, District 16
Senator Rob Garagiola, District 15
Senator John A. Giannetti, Jr., District 21
Senator Lisa A. Gladden, District 41
Senator Verna L. Jones, District 44
Senator Paul G. Pinsky, District 22
Senator Leonard H. Teitelbaum, District 19
Bill indexed under the following Subjects:
EXEMPTIONS
INCOME TAX
MOTOR VEHICLES -see also- ABANDONED; AMBULANCES; BUSES; etc.
Bill affects the following Statutes:
Tax - General
( 10-210.1 , 10-310 )

Documents:

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