Legislation

Title: Income Tax Credit - Qualified Research and Development Expenses - Credit Amounts and Small Business Refund
Sponsored by: Senators King, Brinkley, Colburn, Currie, Garagiola, Klausmeier, Madaleno, Manno, McFadden, Peters, Pugh, Robey, and Young
Status: In the House - Rereferred to Ways and Means
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Defining "small business" as it relates to a refund in connection with a credit against the State income tax for research and development expenses incurred by an individual or corporation; altering to $4,000,000 the maximum amount of research and development credits that the Department of Business and Economic Development may approve in a calendar year; providing that specified unused credits may be claimed as a refund; and applying the Act to Maryland research and development tax credits certified after December 15, 2012.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means

Details

Cross-filed with: HB0386

Introduced in a prior session as: SB0570 Session: 2012 Regular Session

Bill File Type: Regular

Effective Date(s): June 1, 2013

History

Legislation History
Chamber Senate Calendar Date 1/17/2013 Legislative Date 1/18/2013 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 1/23/2013 Legislative Date 1/23/2013 Action Hearing 2/13 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 1/31/2013 Legislative Date 1/31/2013 Action Hearing cancelled Proceedings
Chamber Senate Calendar Date 1/31/2013 Legislative Date 1/31/2013 Action Hearing 2/20 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 4/05/2013 Legislative Date 4/05/2013 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 4/05/2013 Legislative Date 4/01/2013 Action Favorable with Amendments {559134/1 Report Adopted Proceedings 63
Chamber Senate Calendar Date 4/05/2013 Legislative Date 4/01/2013 Action Second Reading Passed with Amendments Proceedings 63
Chamber Senate Calendar Date 4/08/2013 Legislative Date 4/02/2013 Action Third Reading Passed (47-0) Proceedings 64
Chamber House Calendar Date 4/08/2013 Legislative Date 4/02/2013 Action First Reading House Rules and Executive Nominations Proceedings 66
Chamber House Calendar Date 4/08/2013 Legislative Date 4/08/2013 Action Rereferred to Ways and Means Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	1/17/2013	1/18/2013	First Reading Budget and Taxation
Senate	1/23/2013	1/23/2013	Hearing 2/13 at 1:00 p.m.
Senate	1/31/2013	1/31/2013	Hearing cancelled
Senate	1/31/2013	1/31/2013	Hearing 2/20 at 1:00 p.m.
Senate	4/05/2013	4/05/2013	Favorable with Amendments Report by Budget and Taxation
Senate	4/05/2013	4/01/2013	Favorable with Amendments {559134/1 Report Adopted	63
Senate	4/05/2013	4/01/2013	Second Reading Passed with Amendments	63
Senate	4/08/2013	4/02/2013	Third Reading Passed (47-0)	64
House	4/08/2013	4/02/2013	First Reading House Rules and Executive Nominations	66
House	4/08/2013	4/08/2013	Rereferred to Ways and Means

Documents

Date Posted	Document Name
4/05/2013	Amendments Senate - (Budget and Taxation) {559134/01 Adopted
1/18/2013	Text - First - Income Tax Credit - Qualified Research and Development Expenses - Credit Amounts and Small Business Refund
4/06/2013	Text - Third - Income Tax Credit - Qualified Research and Development Expenses - Credit Amounts and Small Business Refund
4/05/2013	Vote - Senate - Committee - Budget and Taxation
4/02/2013	Vote - Senate Floor - Third Reading Passed (47-0) - 04/02/13

File Code

Subjects

Statutes