CHAPTER NUMBER: 515
File Code: Taxes - Income
- Sponsored By:
-
Senators Hogan, Neall, Lawlah, Hooper, Stoltzfus, DeGrange,
Mooney, Currie, Roesser, Middleton, Hoffman, Kasemeyer, Madden,
McFadden, Munson, Ruben, and Stone
- Entitled:
-
Maryland Research and Development Tax Credit
Allowing a State income tax credit in an amount equal to 3% of
qualified Maryland research and development expenses, up to a
specified base amount, incurred during a taxable year; allowing a
credit in an amount equal to 10% of the expenses paid or incurred for
Maryland research and development in excess of the base amount;
providing for applications to the Department of Business and Economic
Development for approval and certification of credit amounts, up to
$3,000,000 total statewide for each credit; etc.
Senate Action
- 2/1
- First Reading Budget and Taxation
- 2/2
- Hearing 2/23 at 1:30 p.m.
- 3/29
- Favorable with Amendments Report by Budget and Taxation
- 3/30
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 3/31
- Third Reading Passed (45-1)
- 4/8
- Returned Passed
- 5/18
- Signed by the Governor Chapter 515
House Action
- 3/29
- First Reading Ways and Means
- 3/31
- Hearing 4/5 at 1:00 p.m.
- 4/8
- Favorable Report by Ways and Means
- 4/6
- Favorable Report Adopted
- Second Reading Passed
- 4/7
- Third Reading Passed (128-1)
- Sponsored by:
- Senator Patrick J. Hogan, District 39
- Senator Ulysses Currie, District 25
- Senator James E. DeGrange, Sr., District 32
- Senator Barbara A. Hoffman, District 42
- Senator J. Robert Hooper, District 35
- Senator Edward J. Kasemeyer, District 12
- Senator Gloria Lawlah, District 26
- Senator Martin G. Madden, District 13
- Senator Nathaniel J. McFadden, District 45
- Senator Thomas M. Middleton, District 28
- Senator Alexander X. Mooney, District 3
- Senator Donald F. Munson, District 2
- Senator Robert R. Neall, District 33
- Senator Jean W. Roesser, District 15
- Senator Ida G. Ruben, District 20
- Senator J. Lowell Stoltzfus, District 38
- Senator Norman R. Stone, Jr., District 7
- Bill indexed under the following Subjects:
- BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF
- COMPTROLLER
- INCOME TAX
- INDUSTRY AND TECHNOLOGY
- REPORTS
- RULES AND REGULATIONS
- SUNSET
- TAX CREDITS -see also- CIRCUIT BREAKER
- Bill affects the following Statutes:
- Tax - General
- (
10-205 ,
10-718
)
- Bill Text:
First Reading (PDF),
Third Reading (PDF), Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
- Senate
- Number: 569730/1 (PDF) Offered on: March 30, 2000 at:
11:30 a.m. Status: Adopted
- Roll Call Votes (Legislative dates are shown):
- Senate
- March 31, 2000: Third Reading Passed (45-1)
- House
- April 7, 2000: Third Reading Passed (128-1)
