2009 Regular Session

SENATE BILL 1069

EMERGENCY BILL
File Code: Taxes - Income
Sponsored By:
Senator Madaleno
Entitled:
Income Tax - Net Operating Loss Deductions - Loss from Criminal Fraud or Embezzlement

Synopsis:

Providing that a Maryland income tax provision requiring addition or subtraction modifications to federal adjusted gross income to determine Maryland adjusted gross income of an individual without regard to the special net operating loss carryback period provided under � 172(b)(1)(H) of the Internal Revenue Code is not applicable to net operating losses covered under I.R.S. Revenue Ruling 2009-9 and substantiated under I.R.S. Revenue Procedure 2009-20; making the Act an emergency measure; 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
3/24
First Reading Senate Rules
Motion Rules Suspended for late introduction (Senator Madaleno) Adopted
Referred Senate Rules
House Action
No Action

Bill indexed under the following Subjects:

Crimes and Punishments -see also- Penalties; Sentences; etc.
Exemptions
Fraud -see also- Forgery
Income Tax
Investments -see also- Securities

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Not available at this time
Amendments: None offered