Maryland Senate Bill 507 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 9-3)
Status: Introduced on February 4 2019 - 25% progression, died in committee
Action: 2019-02-28 - Hearing 3/13 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]

Allowing a credit against the State income tax for a certain percentage of an investment made in a qualified innovation business, not to exceed $50,000, or $100,000 for a qualified investor that is a pass-through entity or a married couple filing jointly; requiring a qualified investor to meet certain requirements in order to be eligible for the credit; requiring the Department of Commerce to administer the credit; applying the Act to certain taxable years beginning after December 31, 2018; etc.

Income Tax - Angel Investor Tax Credit Program

Sen. Adelaide Eckardt [R]	Sen. Jack Bailey [R]	Sen. George Edwards [R]	Sen. Jason Gallion [R]
Sen. Guy Guzzone [D]	Sen. Stephen Hershey [R]	Sen. Michael Hough [R]	Sen. Katherine Klausmeier [D]
Sen. Johnny Salling [R]	Sen. Bryan Simonaire [R]	Sen. Chris West [R]	Sen. Ronald Young [D]

Date	Chamber	Action
2019-02-28	Senate	Hearing 3/13 at 1:00 p.m.
2019-02-28	Senate	Hearing canceled
2019-02-06	Senate	Hearing 3/06 at 1:00 p.m.
2019-02-04	Senate	First Reading Budget and Taxation

Type	Source
Summary	https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0507?ys=2019rs
Text	https://mgaleg.maryland.gov/2019RS/bills/sb/sb0507f.pdf
Supplement	https://mgaleg.maryland.gov/2019RS/fnotes/bil_0007/sb0507.pdf