2008 Regular Session

SENATE BILL 165

File Code: Taxes - Miscellaneous
Sponsored By:
Senator Haines
Entitled:
Maryland Estate Tax - Exclusion for Family Farm or Family-Owned Business

Synopsis:

Altering the determination of the Maryland estate tax under specified circumstances to exclude from the value of the gross estate up to $1,000,000 of the value of specified property for agricultural use or for the use of specified family-owned businesses; requiring the Comptroller to adopt regulations to provide for the recapture of specified tax savings under specified circumstances; and applying the Act to decedents dying after December 31, 2007.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.
Senate Action
1/18
First Reading Budget and Taxation
1/23
Hearing 1/30 at 1:00 p.m.
House Action
No Action

Bill indexed under the following Subjects:

Agriculture -see also- Farmland
Comptroller
Estates and Trusts
Exemptions
Farmland
Real Property
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax
Rules and Regulations
Small Business

Bill affects the following Statutes:

Tax - General
( 7-309 , 7-309 )

Documents:

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