2006 Regular Session

HOUSE BILL 142

File Code: Taxes - Income Prior Year Introduction As: HB 322/05 - W&M
Sponsored By:
Delegates Krebs, Aumann, Bartlett, Bates, Cluster, Costa, Cryor, DeBoy, Dwyer, Eckardt, Elliott, Elmore, Frank, Glassman, Haddaway, Hogan, Jennings, Kohl, McComas, McMillan, Minnick, Shank, Shewell, Smigiel, Sossi, Stocksdale, Stull, Trueschler, and Weir
Entitled:
Income Tax - Expensing of Section 179 Property

Synopsis:

Limiting to property placed in service before January 1, 2006, 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

House Action
1/18
First Reading Ways and Means
2/22
Hearing 3/10 at 1:30 p.m.
Senate Action
No Action

Sponsored by:

Delegate Susan W. Krebs, District 9B
Delegate Susan L. M. Aumann, District 42
Delegate Joseph R. Bartlett, District 4A
Delegate Gail H. Bates, District 9A
Delegate John W. E. Cluster, Jr., District 8
Delegate Robert A. Costa, District 33B
Delegate Jean B. Cryor, District 15
Delegate Steven J. DeBoy, Sr., District 12A
Delegate Donald H. Dwyer, Jr., District 31
Delegate Adelaide C. Eckardt, District 37B
Delegate Donald B. Elliott, District 4B
Delegate D. Page Elmore, District 38A
Delegate William J. Frank, District 42
Delegate Barry Glassman, District 35A
Delegate Jeannie Haddaway, District 37B
Delegate Patrick N. Hogan, District 3A
Delegate J. B. Jennings, District 7
Delegate Sheryl Davis Kohl, District 34A
Delegate Susan K. McComas, District 35B
Delegate Herb McMillan, District 30
Delegate Joseph J. Minnick, District 6
Delegate Christopher B. Shank, District 2B
Delegate Tanya T. Shewell, District 5A
Delegate Michael D. Smigiel, Sr., District 36
Delegate Richard A. Sossi, District 36
Delegate Nancy R. Stocksdale, District 5A
Delegate Paul S. Stull, District 4A
Delegate John G. Trueschler, District 42
Delegate Michael H. Weir, 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