HOUSE BILL 56

Sponsored By:

Delegate Mizeur

Entitled:

Corporate Income Tax Rate - Mass Transit Funding

Synopsis:

Creating a Mass Transit Account within the Transportation Trust Fund; providing for the distribution of specified corporate income tax revenue to the Account; increasing from 7% to 8% the corporate income tax rate; pledging specified taxes collected to pay the principal and interest on specified bonds; limiting the use of the Account to funding specified transit capital and operating expenses; etc.

History by Legislative and Calendar Date

House Action

10/30

First Reading Ways and Means

11/2

Hearing 11/3 at 10:00 a.m.

Senate Action

No Action

Bill indexed under the following Subjects:

Bonds -see also- County & Baltimore City Bonds; State Bonds.

Corporations -see also- Municipal Corps; Public Corps & Inst

Counties -see also- Chartered Counties; Code Counties

Grants

Income Tax

Mass Transit -see also- Buses; Railroads

Revenue and Taxes -see also- Dev Fees &Taxes; specific tax

Transportation-see also- Aircraft; Airports; Boats; etc

Bill affects the following Statutes:

Tax - General

( 2-614 , 2-615 , 10-105 )

Transportation

( 3-216 , 3-401 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered