Legislation

Title: Income Tax - Subtraction Modification and Credit - Creation of a Qualifying Business Enterprise
Sponsored by: Delegates Branch, Hixson, Oaks, Cardin, Tarrant, B. Robinson, Barve, Conaway, Glenn, Jones, O'Donnell, Proctor, Vaughn, Walker, and Wilson
Status: In the House - Withdrawn by Sponsor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:: Ways and Means; Economic Matters

Opposite:

Details

Cross-filed with: SB0498

Bill File Type: Regular

Effective Date(s): July 1, 2013

History

Legislation History
Chamber House Calendar Date 1/30/2013 Legislative Date 1/31/2013 Action First Reading Ways and Means and Economic Matters Proceedings
Chamber House Calendar Date 2/06/2013 Legislative Date 2/06/2013 Action Hearing 2/26 at 1:00 p.m. (Ways and Means) Proceedings
Chamber House Calendar Date 2/26/2013 Legislative Date 2/26/2013 Action Hearing cancelled (Ways and Means) Proceedings
Chamber House Calendar Date 3/01/2013 Legislative Date 3/04/2013 Action Unfavorable Report by Ways and Means; Withdrawn Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	1/30/2013	1/31/2013	First Reading Ways and Means and Economic Matters
House	2/06/2013	2/06/2013	Hearing 2/26 at 1:00 p.m. (Ways and Means)
House	2/26/2013	2/26/2013	Hearing cancelled (Ways and Means)
House	3/01/2013	3/04/2013	Unfavorable Report by Ways and Means; Withdrawn

Documents

Date Posted	Document Name
1/31/2013	Text - First - Income Tax - Subtraction Modification and Credit - Creation of a Qualifying Business Enterprise
3/04/2013	Vote - House - Committee - Economic Matters
3/04/2013	Vote - House - Committee - Ways and Means

File Code

Subjects

Statutes