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Legislation


2012 Regular Session

HOUSE BILL 581

File Code: Taxes - Income Prior Year Introduction As: HB 669/09 - W&M Crossfiled with: SENATE BILL 653
Sponsored By:
Delegates Bates, Afzali, Aumann, Elliott, Frank, George, Glass, Hogan, Krebs, McComas, Parrott, Ready, Stocksdale, Vitale, and Wood
Entitled:
Income Tax - Expensing of Business Property and Bonus Depreciation

Synopsis:

Limiting to property placed in service before January 1, 2012, the applicability of Maryland income tax modifications for specified deductions for the cost of the property that is treated as an expense for federal income tax purposes; limiting to property placed in service before January 1, 2012, the applicability of Maryland income tax modifications for a specified additional depreciation allowance under the federal income tax for specified property; and applying the Act to taxable years ending after December 31, 2011.

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.
House Action
2/6
First Reading Ways and Means
2/8
Hearing 2/21 at 1:00 p.m.
Senate Action
No Action

Sponsored by:

Delegate Gail H. Bates, District 9A
Delegate Kathy Afzali, District 4A
Delegate Susan L. M. Aumann, District 42
Delegate Donald B. Elliott, District 4B
Delegate William J. Frank, District 42
Delegate Ron George, District 30
Delegate Glen Glass, District 34A
Delegate Patrick N. Hogan, District 3A
Delegate Susan W. Krebs, District 9B
Delegate Susan K. McComas, District 35B
Delegate Neil Parrott, District 2B
Delegate Justin Ready, District 5A
Delegate Nancy R. Stocksdale, District 5A
Delegate Cathy Vitale, District 33A
Delegate John F. Wood, Jr., District 29A

Bill indexed under the following Subjects:

Corporations -see also- Municipal Corps; Public Corps & Inst
Equipment -see also- Motor Vehicle Equipment
Exemptions
Income Tax
Personal Property

Bill affects the following Statutes:

Tax - General
( 10-210.1 , 10-210.1 , 10-310 )

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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