Maryland Senate Bill 282 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 11-0)
Status: Introduced on February 5 2015 - 25% progression, died in committee
Action: 2015-03-10 - Hearing 3/10 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]

Allowing an individual a credit against the State income tax equal to the amount by which the tax, when applying a specified effective tax rate, on the individual's distributive share of pass-through entity income exceeds the tax on the individual's distributive share of pass-through entity income when applying a tax rate of 2.875%; providing that an individual may not claim the credit if the individual's effective tax rate is less than 2.875%; and applying the Act to taxable years beginning after December 31, 2014.

Income Tax Credit - Pass-Through Entities

Sen. Gail Bates [R]	Sen. Bob Cassilly [R]	Sen. Adelaide Eckardt [R]	Sen. George Edwards [R]
Sen. Stephen Hershey [R]	Sen. Michael Hough [R]	Sen. J.B. Jennings [R]	Sen. Johnny Salling [R]
Sen. Andrew Serafini [R]	Sen. Bryan Simonaire [R]	Sen. Stephen Waugh [R]

Date	Chamber	Action
2015-03-10	Senate	Hearing 3/10 at 1:00 p.m.
2015-02-05	Senate	First Reading Budget and Taxation

Type	Source
Summary	https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0282?ys=2015rs
Text	https://mgaleg.maryland.gov/2015RS/bills/sb/sb0282f.pdf
Supplement	https://mgaleg.maryland.gov/2015RS/fnotes/bil_0002/sb0282.pdf