File Code: Taxes - Income
Crossfiled with: HOUSE BILL 659
- Sponsored By:
-
Senator McFadden (Maryland Gives Task Force on Charitable
Giving)
- Entitled:
-
Income Tax Credit - Endowment Gifts
Allowing a State income tax credit for individuals in an amount equal
to 10% of the present value of the aggregate amount of an endowment
gift, as defined; allowing a State income tax credit to corporations
in an amount equal to 10% of the amount of an endowment gift; limiting
the credit to the State income tax otherwise imposed for the taxable
year; defining terms; and applying the Act to tax years after 1999.
Senate Action
- 2/4
- First Reading Budget and Taxation
- 2/21
- Hearing 3/8 at 1:30 p.m.
- 3/24
- Withdrawn
House Action
- No Action
- Sponsored by:
- Senator Nathaniel J. McFadden, District 45
- MD Gives! - T.F.on Charitable Giving
- Bill indexed under the following Subjects:
- GIFTS
- INCOME TAX
- NONPROFIT ORGANIZATIONS
- TAX CREDITS -see also- CIRCUIT BREAKER
- Bill affects the following Statute:
- Tax - General
- (
10-718
)
- Bill Text:
First Reading (PDF),
Third Reading, Enrolled
- Fiscal Note:
Available (PDF)
- Amendments:
None offered
