Legislation

Title: Income Tax - Subtraction Modification and Credit - Creation of a Qualifying Business Enterprise
Sponsored by: Senators Pugh, Benson, Conway, Forehand, Garagiola, Jones-Rodwell, and McFadden
Status: In the Senate - Withdrawn by Sponsor
Analysis: Fiscal and Policy Note

Synopsis

Providing a subtraction modification under the Maryland income tax for income related to the qualifying sale of a business enterprise that results in the creation of a specified business enterprise owned and controlled by specified individuals; allowing investors in specified business enterprises to claim a credit against the State income tax for specified investments; providing for the recapture of the subtraction modification and tax credit under specified circumstances; applying the Act to tax years beginning after December 31, 2012; etc.

Committees

Original:: Budget and Taxation

Opposite:

Details

Cross-filed with: HB0564

Bill File Type: Regular

Effective Date(s): July 1, 2013

History

Legislation History
Chamber Senate Calendar Date 1/30/2013 Legislative Date 1/31/2013 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/13/2013 Legislative Date 2/13/2013 Action Hearing 3/06 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/28/2013 Legislative Date 2/28/2013 Action Hearing cancelled Proceedings
Chamber Senate Calendar Date 3/06/2013 Legislative Date 3/07/2013 Action Unfavorable Report by Budget and Taxation; Withdrawn Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	1/30/2013	1/31/2013	First Reading Budget and Taxation
Senate	2/13/2013	2/13/2013	Hearing 3/06 at 1:00 p.m.
Senate	2/28/2013	2/28/2013	Hearing cancelled
Senate	3/06/2013	3/07/2013	Unfavorable Report by Budget and Taxation; Withdrawn

Documents

Date Posted	Document Name
1/31/2013	Text - First - Income Tax - Subtraction Modification and Credit - Creation of a Qualifying Business Enterprise

File Code

Subjects

Statutes