SENATE BILL 219

Sponsored By:

Senators Grosfeld, Britt, Frosh, Garagiola, Giannetti, Gladden, Jones, Pinsky, and Teitelbaum

Entitled:

Sport Utility Vehicle (SUV) Business Tax Loophole Closure Act

Synopsis:

Providing modifications to federal adjusted gross income of an individual or federal taxable income of a corporation for Maryland income tax purposes to reflect the determination of the depreciation deductions with respect to a heavy duty SUV, as defined, as if the heavy duty SUV were subject to the limitations on depreciation under { 280F of the Internal Revenue Code; and applying the Act to tax years after 2003.

History by Legislative Date

Senate Action

1/28

First Reading Budget and Taxation

2/25

Hearing 3/10 at 1:00 p.m.

House Action

No Action

Sponsored by:

Senator Sharon M. Grosfeld, District 18

Senator Gwendolyn Britt, District 47

Senator Brian E. Frosh, District 16

Senator Rob Garagiola, District 15

Senator John A. Giannetti, Jr., District 21

Senator Lisa A. Gladden, District 41

Senator Verna L. Jones, District 44

Senator Paul G. Pinsky, District 22

Senator Leonard H. Teitelbaum, District 19

Bill indexed under the following Subjects:

EXEMPTIONS

INCOME TAX

MOTOR VEHICLES -see also- ABANDONED; AMBULANCES; BUSES; etc.

Bill affects the following Statutes:

Tax - General

( 10-210.1 , 10-310 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered