SENATE BILL 509

File Code: Taxes - Miscellaneous Crossfiled with: HOUSE BILL 333

Sponsored By:

Senator Middleton

Entitled:

Maryland Estate Tax - Exclusion for Qualified Agricultural Property

Synopsis:

Altering the determination of the Maryland estate tax under specified circumstances to exclude from the value of the gross estate the value of specified agricultural property; providing for the recapture of the Maryland estate tax under specified circumstances; requiring the Comptroller to adopt regulations; 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

2/1

First Reading Budget and Taxation

2/20

Hearing 3/6 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

Comptroller

Estates and Trusts

Farmland

Revenue and Taxes -see also- Dev Fees &Taxes; specific tax

Rules and Regulations

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