SENATE BILL 319

Sponsored By:

Chairman, Budget and Taxation Committee (By Request - Departmental - Comptroller)

Entitled:

Comptroller - Business Trusts

Synopsis:

Altering definitions to clarify that a business trust not taxed as a corporation is subject to a specified tax imposed on pass-through entities; and applying the Act to tax years after 2005.

History by Legislative Date

Senate Action

1/26

First Reading Budget and Taxation

2/1

Hearing 2/8 at 2:00 p.m.

2/20

Favorable Report by Budget and Taxation

2/21

Favorable Report Adopted

Second Reading Passed

2/23

Third Reading Passed (47-0)

3/30

Returned Passed

House Action

2/24

First Reading Ways and Means

3/15

Hearing 3/30 at 1:00 p.m.

3/31

Favorable Report by Ways and Means

3/29

Favorable Report Adopted

Second Reading Passed

3/30

Third Reading Passed (134-0)

Action after passage in Senate and House

4/8

Became Law without Governor's signature per Maryland Constitution - Chapter 45

Sponsored by:

Budget & Tax. Comm., Chairman

Departmental

Comptroller of MD

Bill indexed under the following Subjects:

BUSINESS TRUSTS

INCOME TAX

Bill affects the following Statute:

Tax - General

( 10-102.1 )

Documents:

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

Fiscal Note (Displayed in PDF Format): Available

Amendments: None offered

Roll Call Votes (Legislative dates are shown):

Senate

February 23, 2006: Third Reading Passed (47-0)

House

March 30, 2006: Third Reading Passed (134-0)