SENATE BILL 700

File Code: Taxes - Income

Sponsored By:

Senators Hogan, Astle, DeGrange, Dyson, Forehand, Garagiola, Hafer, Jacobs, Kasemeyer, Klausmeier, Kramer, Middleton, Munson, and Ruben

Entitled:

Maryland Research and Development Tax Credit - Expansion and Modification

Synopsis:

Increasing the limits on the aggregate amount of income tax credits that the Department of Business and Economic Development may approve for the Maryland research and development tax credit in a calendar year; altering the method utilized by the Department to award Maryland research and development tax credits; requiring the Department to adopt regulations that include specified factors; etc.

History by Legislative Date

Senate Action

2/3

First Reading Budget and Taxation

2/15

Hearing 3/1 at 1:00 p.m.

House Action

No Action

Sponsored by:

Senator Patrick J. Hogan, District 39

Senator John C. Astle, District 30

Senator James E. DeGrange, Sr., District 32

Senator Roy P. Dyson, District 29

Senator Jennie M. Forehand, District 17

Senator Rob Garagiola, District 15

Senator John J. Hafer, District 1

Senator Nancy Jacobs, District 34

Senator Edward J. Kasemeyer, District 12

Senator Katherine Klausmeier, District 8

Senator Rona E. Kramer, District 14

Senator Thomas M. Middleton, District 28

Senator Donald F. Munson, District 2

Senator Ida G. Ruben, District 20

Bill indexed under the following Subjects:

BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF

COMMERCE AND BUSINESS -see also- DEALERS; TRADERS; etc

INCOME TAX

INDUSTRY AND TECHNOLOGY

RULES AND REGULATIONS

TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statute:

Tax - General

( 10-721 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal Note (Displayed in PDF Format): Available

Amendments: None offered