HOUSE BILL 990

Sponsored By:

Delegates Rosenberg and Hecht

Entitled:

Lead-Safe Housing - Income Tax Credit

Synopsis:

Allowing an individual or a corporation to claim a credit against the State income tax for costs incurred for an approved lead hazard reduction project with respect to qualifying property, as defined; providing for calculation of the credit; providing for submission of proposals for lead hazard reduction projects to the Department of the Environment for approval; limiting to $5,000,000 the total amount of credits that the Department may approve for any fiscal year; requiring the Department to adopt regulations to carry out the Act; etc.

Legislative History

House Action

1/31

First Reading Ways and Means

2/12

Hearing 2/25 at 1:00 p.m.

3/20

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Delegate Samuel I. Rosenberg, District 42

Delegate Sue C. Hecht, District 3

Bill indexed under the following Subjects:

ENVIRONMENT, DEPARTMENT OF

HAZARDOUS AND TOXIC SUBSTANCES -see also- ASBESTOS

HOUSING AND COMMUNITY DEVELOPMENT, DEPARTMENT OF

HOUSING -see also- APARTMENTS; MORTGAGES

INCOME TAX

PENALTIES

RULES AND REGULATIONS

TAX CREDITS

Bill affects the following Statute:

Tax - General

( 10-708 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)