2007 Special Session 1

HOUSE BILL 56

File Code: Taxes - Income
Sponsored By:
Delegate Mizeur
Entitled:
Corporate Income Tax Rate - Mass Transit Funding

Synopsis:

Creating a Mass Transit Account within the Transportation Trust Fund; providing for the distribution of specified corporate income tax revenue to the Account; increasing from 7% to 8% the corporate income tax rate; pledging specified taxes collected to pay the principal and interest on specified bonds; limiting the use of the Account to funding specified transit capital and operating expenses; etc.

History by Legislative and Calendar Date

House Action
10/30
First Reading Ways and Means
11/2
Hearing 11/3 at 10:00 a.m.
Senate Action
No Action

Bill indexed under the following Subjects:

Bonds -see also- County & Baltimore City Bonds; State Bonds.
Corporations -see also- Municipal Corps; Public Corps & Inst
Counties -see also- Chartered Counties; Code Counties
Grants
Income Tax
Mass Transit -see also- Buses; Railroads
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax
Transportation-see also- Aircraft; Airports; Boats; etc

Bill affects the following Statutes:

Tax - General
( 2-614 , 2-615 , 10-105 )
Transportation
( 3-216 , 3-401 )

Documents:

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