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Legislation


2012 Regular Session

SENATE BILL 324

File Code: Taxes - Miscellaneous Prior Year Introduction As: SB 764/11 - B&T Crossfiled with: HOUSE BILL 154
Sponsored By:
Senators Young, Reilly, Brinkley, Colburn, Edwards, Forehand, Garagiola, Glassman, Jacobs, Jennings, Kasemeyer, Kittleman, Klausmeier, Mathias, Middleton, Miller, Pipkin, Robey, Shank, and Simonaire
Entitled:
Estate Tax - Exclusion of Qualified Agricultural Property

Synopsis:

Altering the determination of the Maryland estate tax under specified circumstances to exclude from the value of the gross estate up to $5,000,000 of the value of qualified agricultural property; providing that the Maryland estate tax on qualified agricultural property may not exceed 5% of the value of specified agricultural property exceeding $5,000,000; providing for the recapture of specified Maryland estate tax under specified circumstances; requiring the Comptroller to adopt specified regulations; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
Senate Action
1/27
First Reading Budget and Taxation
2/1
Hearing 2/15 at 1:00 p.m.
2/8
Hearing cancelled
Hearing 2/15 at 1:15 p.m.
House Action
No Action

Sponsored by:

Senator Ronald N. Young, District 3
Senator David R. Brinkley, District 4
Senator Richard F. Colburn, District 37
Senator George C. Edwards, District 1
Senator Jennie M. Forehand, District 17
Senator Rob Garagiola, District 15
Senator Barry Glassman, District 35
Senator Nancy Jacobs, District 34
Senator J. B. Jennings, District 7
Senator Edward J. Kasemeyer, District 12
Senator Allan H. Kittleman, District 9
Senator Katherine Klausmeier, District 8
Senator James N. Mathias, Jr., District 38
Senator Thomas M. Middleton, District 28
Senator Thomas V. Mike Miller, Jr., District 27
Senator E. J. Pipkin, District 36
Senator Edward R. Reilly, District 33
Senator James N. Robey, District 13
Senator Christopher B. Shank, District 2
Senator Bryan W. Simonaire, District 31

Bill indexed under the following Subjects:

Agriculture -see also- Farmland
Comptroller
Death -see also- Advance Medical Directives; Wrongful Death.
Equipment -see also- Motor Vehicle Equipment
Estates and Trusts
Exemptions
Farmland
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax
Rules and Regulations

Bill affects the following Statute:

Tax - General
( 7-309 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered
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