HOUSE BILL 241

File Code: Taxes - Income Prior Year Introduction As: SB 1069/09 - SRU Crossfiled with: SENATE BILL 574

Sponsored By:

Delegates Hixson, Cardin, Doory, Frick, Gilchrist, Ivey, Kaiser, Olszewski, Rice, Ross, and Stukes

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.

House Action

1/25

First Reading Ways and Means

1/27

Hearing 2/11 at 1:00 p.m.

2/12

Hearing cancelled

Hearing 2/25 at 1:00 p.m.

Senate Action

No Action

Sponsored by:

Delegate Sheila E. Hixson, District 20

Delegate Jon S. Cardin, District 11

Delegate Ann Marie Doory, District 43

Delegate C. William Frick, District 16

Delegate Jim Gilchrist, District 17

Delegate Jolene Ivey, District 47

Delegate Anne R. Kaiser, District 14

Delegate John A. Olszewski, Jr., District 6

Delegate Craig L. Rice, District 15

Delegate Justin D. Ross, District 22

Delegate Melvin L. Stukes, District 44

Bill indexed under the following Subjects:

Crimes and Punishments -see also- Penalties and Sentnc; etc.

Exemptions

Fraud -see also- Forgery

Income Tax

Investments -see also- Securities

Documents

All documents except Roll Call Votes are displayed in PDF format:

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered