HOUSE BILL 1062

Sponsored By:

Delegates Busch, Hixson, Gordon, Kopp, Kach, Rawlings, Holt, Linton, and McKee

Entitled:

Maryland Major Business Facility Job Tax Credit

Synopsis:

Allowing a credit against the State income tax, financial institution franchise tax, public service company franchise tax, and insurance premiums tax for the establishment or expansion of major business facilities in the State; providing for calculation of the credit based on the number of new jobs created as a result of the establishment or expansion of the major business facility; limiting the credit allowed in any taxable year to the total tax otherwise payable for that taxable year; etc.

Legislative History

House Action

2/7

First Reading Ways and Means

2/16

Hearing 2/29 at 11:00 a.m.

3/14

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Delegate Michael Erin Busch, District 30

Delegate Michael R. Gordon, District 17

Delegate Sheila Ellis Hixson, District 20

Delegate Kenneth Holt, District 6

Delegate A. Wade Kach, District 9A

Delegate Nancy K. Kopp, District 16

Delegate Samuel C. Linton, District 28

Delegate Robert A. McKee, District 2A

Delegate Howard P. Rawlings, District 40

Bill indexed under the following Subjects:

BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF

COMMERCE AND BUSINESS -see also- SMALL BUSINESS

COMPTROLLER

FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO, CREDIT U

FRANCHISES

INCOME TAX

INSURANCE-GENERAL

REVENUE AND TAXES - GENERAL

RULES AND REGULATIONS

TAX CREDITS

UTILITIES -see also- HIGH VOLTAGE LINES, TELEPHONES

WORK, LABOR AND EMPLOYMENT -see also- LEAVE, OVERTIME

Bill affects the following Statutes:

Article - 83A Department of Business and Economic Development

( 5-1101 , 5-1102 , 5-1103 , 5-1104 , 5-1105 , 5-1106 )

Insurance

( 6-114 )

Article - 48A Insurance Code

( 632 )

Tax - General

( 8-214 , 8-411 , 10-704.4 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None available