HOUSE BILL 669

Sponsored By:

Delegates Bates, Boteler, Dwyer, Eckardt, George, Holmes, Kipke, McComas, McDonough, Miller, Myers, Shewell, Sophocleus, Sossi, and Wood

Entitled:

Maryland Economic Stimulus Act - Expensing of Business Property and Bonus Depreciation

Synopsis:

Limiting to property placed in service before January 1, 2009, the applicability of Maryland income tax modifications for specified deductions for the cost of specified property treated as an expense for federal income tax purposes; limiting to property placed in service before January 1, 2009, 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 tax years ending after December 31, 2008.

History by Legislative and Calendar Date

House Action

2/9

First Reading Ways and Means

2/11

Hearing 3/5 at 1:00 p.m.

Senate Action

No Action

Sponsored by:

Delegate Gail H. Bates, District 9A

Delegate Joseph C. Boteler, III, District 8

Delegate Don H. Dwyer, Jr., District 31

Delegate Adelaide C. Eckardt, District 37B

Delegate Ron George, District 30

Delegate Marvin E. Holmes, Jr., District 23B

Delegate Nicholaus R. Kipke, District 31

Delegate Susan K. McComas, District 35B

Delegate Pat McDonough, District 7

Delegate Warren E. Miller, District 9A

Delegate LeRoy E. Myers, Jr., District 1C

Delegate Tanya T. Shewell, District 5A

Delegate Theodore Sophocleus, District 32

Delegate Richard A. Sossi, District 36

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 , 10-310 )

Documents:

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

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered