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2007 Regular Session bill information current as of October 3, 2007 - 11:20 p.m.
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SENATE BILL 232

File Code: Taxes - Income
Prior Year Introduction As: HB 984/06 - W&M
Crossfiled with: HOUSE BILL 46

Sponsored By:
Senators Hogan, Astle, Colburn, DeGrange, Della, Dyson, Forehand, Garagiola, Jacobs, Jones, Kasemeyer, Klausmeier, Kramer, Lenett, Madaleno, Middleton, Munson, and Stone

Entitled:
Income Tax - Research and Development Tax Credits - Modifications

Synopsis:

Increasing the aggregate amount of income tax credits for Maryland qualified research and development expenses that may be approved by the Department of Business and Economic Development each year from $6,000,000 to $12,000,000; and applying the Act to taxable years after 2006.

History by Legislative and Calendar Date Explain Legislative Date and Calendar Date

Senate Action
1/29
First Reading Budget and Taxation
Hearing 2/7 at 1:00 p.m.
3/12
Unfavorable Report by Budget and Taxation
House Action
No Action

Sponsored by:

Senator Patrick J. Hogan, District 39
Senator John C. Astle, District 30
Senator Richard F. Colburn, District 37
Senator James E. DeGrange, Sr., District 32
Senator George W. Della, Jr., District 46
Senator Roy P. Dyson, District 29
Senator Jennie M. Forehand, District 17
Senator Rob Garagiola, District 15
Senator Nancy Jacobs, District 34
Senator Verna L. Jones, District 44
Senator Edward J. Kasemeyer, District 12
Senator Katherine Klausmeier, District 8
Senator Rona E. Kramer, District 14
Senator Mike Lenett, District 19
Senator Richard S. Madaleno, Jr., District 18
Senator Thomas M. Middleton, District 28
Senator Donald F. Munson, District 2
Senator Norman R. Stone, Jr., District 6

Bill indexed under the following Subjects:

Business and Economic Development, Department of
Income Tax
Industry and Technology
Tax Credits -see also- Circuit Breaker

Bill affects the following Statute:

Tax - General
( 10-721 )

Documents:

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

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

Amendments: None offered


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