Legislation

Title: Income Tax Credit – Donations to Endowment Funds – Community Foundations and Historically Black Colleges and Universities
Sponsored by: Delegates Hixson, Ali, Ebersole, C. Howard, Jalisi, Luedtke, Turner, Walker, M. Washington, Afzali, Hornberger, Mosby, Tarlau, A. Washington, and Wilkins
Status: In the Senate - Hearing 3/28 at 1:00 p.m.
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Increasing from $250,000 to $500,000 the aggregate amount of State income tax credits the Department of Housing and Community Development is authorized to issue in a taxable year for donations to certain qualified permanent endowment funds at certain community foundations; allowing a credit against the State income tax in the amount of 25% of a proposed donation to a qualified endowment fund at an institution of higher education; providing the total amount of tax credit certificates certified may not exceed $250,000; etc.

Committees

Original:: Ways and Means Click to view Recorded Media

Opposite:: Budget and Taxation Click to view Recorded Media

Details

Cross-filed with: SB0970

Introduced in a prior session as: HB1119 Session: 2017 Regular Session

Bill File Type: Regular

Effective Date(s): July 1, 2018

History

Legislation History
Chamber House Calendar Date 2/09/2018 Legislative Date 2/09/2018 Action First Reading Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax Credit - Endow Maryland - Credit Amounts Proceedings
Chamber House Calendar Date 2/12/2018 Legislative Date 2/12/2018 Action Hearing 3/02 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Ways and Means Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/16/2018 Legislative Date 3/16/2018 Action Favorable with Amendments Report by Ways and Means Proceedings
Chamber House Calendar Date 3/17/2018 Legislative Date 3/13/2018 Action Favorable with Amendments {765162/1 Adopted Proceedings 47AClick to view Recorded Media
Chamber House Calendar Date 3/17/2018 Legislative Date 3/13/2018 Action Second Reading Passed with Amendments Proceedings 47AClick to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Income Tax Credit – Donations to Endowment Funds – Community Foundations and Historically Black Colleges and Universities Proceedings
Chamber House Calendar Date 3/19/2018 Legislative Date 3/15/2018 Action Third Reading Passed (136-0) Proceedings 49 Click to view Recorded Media
Chamber Senate Calendar Date 3/19/2018 Legislative Date 3/16/2018 Action Referred Budget and Taxation Proceedings 48BClick to view Recorded Media
Chamber Senate Calendar Date 3/21/2018 Legislative Date 3/21/2018 Action Hearing 3/28 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	2/09/2018	2/09/2018	First Reading Ways and Means
			Text - First - Income Tax Credit - Endow Maryland - Credit Amounts
House	2/12/2018	2/12/2018	Hearing 3/02 at 1:00 p.m.
			Vote - House - Committee - Ways and Means	Click to view Recorded Media
House	3/16/2018	3/16/2018	Favorable with Amendments Report by Ways and Means
House	3/17/2018	3/13/2018	Favorable with Amendments {765162/1 Adopted	47AClick to view Recorded Media
House	3/17/2018	3/13/2018	Second Reading Passed with Amendments	47AClick to view Recorded Media
			Text - Third - Income Tax Credit – Donations to Endowment Funds – Community Foundations and Historically Black Colleges and Universities
House	3/19/2018	3/15/2018	Third Reading Passed (136-0)	49 Click to view Recorded Media
Senate	3/19/2018	3/16/2018	Referred Budget and Taxation	48BClick to view Recorded Media
Senate	3/21/2018	3/21/2018	Hearing 3/28 at 1:00 p.m.

File Code

Subjects

Statutes