SENATE BILL 969

File Code: Taxes - Income

Sponsored By:

Senator Colburn

Entitled:

Income Tax Subtraction Modification - Charitable Donations - Partial Interests in Property

Synopsis:

Allowing an individual or corporation a subtraction modification under the Maryland income tax equal to the fair market value of an in-kind donation of rental space to nonprofit organizations if the donation is not allowed a deduction under the federal income tax; applying the Act to taxable years beginning after December 31, 2008; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.

Senate Action

2/23

First Reading Senate Rules

3/5

Re-referred Budget and Taxation

3/11

Hearing 3/25 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

Exemptions

Gifts

Income Tax

Leases and Rent

Nonprofit Organizations

Bill affects the following Statutes:

Tax - General

( 10-208 , 10-208 , 10-308 , 10-308 )

Documents:

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

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered