SENATE BILL 592

Sponsored By:

Senators Garagiola, Kittleman, and Klausmeier

Entitled:

Maryland Estate Tax - Exclusion for Qualified Agricultural Property

Synopsis:

Altering the determination of the Maryland estate tax under specified circumstances to exclude from the value of the gross estate the value of specified agricultural property; providing for the recapture of the Maryland estate tax under specified circumstances; requiring the Comptroller to adopt regulations; and applying the Act to decedents dying after December 31, 2009.

History by Legislative and Calendar Date

Senate Action

2/5

First Reading Budget and Taxation

2/17

Hearing 3/10 at 1:00 p.m.

House Action

No Action

Sponsored by:

Senator Rob Garagiola, District 15

Senator Allan H. Kittleman, District 9

Senator Katherine Klausmeier, District 8

Bill indexed under the following Subjects:

Agriculture -see also- Farmland

Comptroller

Estates and Trusts

Exemptions

Farmland

Revenue and Taxes -see also- Dev Fees &Taxes; specific tax

Rules and Regulations

Bill affects the following Statutes:

Tax - General

( 7-309 , 7-309 )

Documents

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered