2005 Regular Session

SENATE BILL 100

File Code: Taxes - Income Crossfiled with: HOUSE BILL 322
Sponsored By:
Senators Greenip, Astle, Colburn, Garagiola, Hafer, Haines, Harris, Hooper, Jacobs, Mooney, Pipkin, Schrader, and Stone
Entitled:
Income Tax - Expensing of Section 179 Property

Synopsis:

Limiting to property placed in service before January 1, 2005 the applicability of 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 maximum aggregate costs that a taxpayer may treat as an expense under Section 179 of the Internal Revenue Code for any taxable year without regard to the changes made to that section by the federal Jobs and Growth Reconciliation Act of 2003 for federal income tax purposes; etc.

History by Legislative Date

Senate Action
1/19
First Reading Budget and Taxation
1/20
Hearing 2/2 at 1:30 p.m.
House Action
No Action

Sponsored by:

Senator Janet Greenip, District 33
Senator John C. Astle, District 30
Senator Richard F. Colburn, District 37
Senator Rob Garagiola, District 15
Senator John J. Hafer, District 1
Senator Larry E. Haines, District 5
Senator Andrew P. Harris, District 7
Senator J. Robert Hooper, District 35
Senator Nancy Jacobs, District 34
Senator Alexander X. Mooney, District 3
Senator E. J. Pipkin, District 36
Senator Sandra B. Schrader, District 13
Senator Norman R. Stone, Jr., District 6

Bill indexed under the following Subjects:

CORPORATIONS -see also- MUNICIPAL CORPORATIONS
EQUIPMENT -see also- MOTOR VEHICLE EQUIPMENT
EXEMPTIONS
FEDERAL GOVERNMENT
INCOME TAX
PERSONAL PROPERTY
REAL PROPERTY

Bill affects the following Statutes:

Tax - General
( 10-210.1 , 10-310 )

Documents:

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