SB 168/ HB 121 The Lorraine Sheehan Health and Community Services Act of 2011.
Increases thestate tax on alcoholic beverages from $1.50 to $10.03 per gallon for distilled spirits, from40-cents to $2.96 per gallon for wine, and from 9-cents to $1.16 per gallon for beer.87.25% of the revenues are dedicated to the developmentally disabled, addiction treatment,mental health and Medicaid. Generates approximately $200 million and is equivalent to:30-cents per .75 liter of liquor, 10-cents per liter bottle of wine, and 5-cents per six-pack of beer.Jones-Rodwell, etal Hubbard, et alB&T and FIN hrg2/23 at 1pm W&M and HGO3/3 at 1pm
NO POSITIONSB 305/ HB 731 Corporate Income Tax-Combined Reporting.
Beginning, tax year 2012, corporationswould be subject to combined unitary reporting as the method for calculating tax liability.Pinsky, et al Ross, et alB&T
OPPOSESB 800 Corporate Income Tax Reform.
Affects multistate corporations by taxing: nonbusinessincome of multistate corporations in MD if the business of the corporation is directed ormanaged in MD (some nonbusiness income is apportioned away from MD, even thoughfederal law prevents nonbusiness income from being taxed in any state other than the"home" state); and sales of goods shipped from MD and the corporation is not taxed in thestate of the purchaser because the corporation has no physical presence in that state.Benson andMontgomeryB&T2/4
OPPOSESB 798 Income Tax-Millionaires Tax-Extension of Termination Date.
Extends to TY 2014 the6.25% income tax rate on taxable income in excess of $1 million; and applies to TY 2011.Jones-Rodwell B&T2/4
OPPOSEHB 1070 Income Tax-Millionaires Tax-Sunset Repeal.
Makes permanent the 6.25% income taxrate on taxable individual income in excess of $1 million.Ivey, et al W&M
OPPOSESB 316 Property Tax-Charter Counties-Education Funding.
Authorizes charter counties to seta property tax rate that is higher than the rate authorized under the charter or collect moreproperty tax revenues than the revenues authorized under the charter for the sole purpose of funding the approved budget of the county board of education; and requires the additionalrevenues to be appropriated to the county board and prevents a reduction in local fundingfor education below current levels.Madaleno B&T hrg 2/23 at1pm
Transportation Trust Fund-Financing-Use of Funds.
Constitutional Amendmentcontaining the provisions in HB 518, except: (1) allows the restoration of HUR to occur;and (2) does not restrict the General Assembly's approval of the TTF transfer to be limitedto that singular provision.Increases the gasoline tax by 10-cents per gallon, effective July 1, 2011; indexes the priceof gasoline to the construction cost index with a 1-cent limit annually, effective 2013; andincreases by 50% all vehicle registration fees (e.g. passenger auto: from $50.50 annually to$75.75; and SUVs from $76.50 to $114.75).Garagiola, et al Frick, et alB&T
3/9 @1pm W&M-3/1 @ 1pm
withsuggested amendmentto separateconstitutionalamendment from taxconsiderations