SENATE BILL 770

Sponsored By:

Senator Exum

Entitled:

Qualified Maryland Housing Tax Credit

Synopsis:

Allowing a credit against the State insurance premiums tax or the State income tax for qualified Maryland housing; providing for allocation of the aggregate available credit among qualified Maryland housing projects by the Secretary of Housing and Community Development; limiting the aggregate credit that may be authorized for any calendar year; authorizing the Secretary to adopt regulations; requiring the Secretary to adopt specified regulations or policies; applying the Act to tax years after 2002; etc.

History by Legislative Date

Senate Action

2/1

First Reading Budget and Taxation

2/13

Hearing 3/13 at 1:30 p.m.

4/5

Unfavorable Report by Budget and Taxation

House Action

No Action

Bill indexed under the following Subjects:

HOUSING AND COMMUNITY DEVELOPMENT, DEPARTMENT OF

HOUSING -see also- APARTMENTS; CONDOMINIUMS; MOBILE HOMES

INCOME TAX

INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS

REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.

RULES AND REGULATIONS

TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statutes:

Article - 83B Department of Housing and Community Development

( 2-1601 , 2-1602 , 2-1603 , 2-1604 , 2-1605 )

Insurance

( 6-121 )

Tax - General

( 10-724 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered