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Ch. 501
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LAWS OF MARYLAND
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1522
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this tax credit an addback modification to taxable income
under certain circumstances; generally relating to a credit
against State income taxes modification subtraction for the
cost of reforestation and timber stand improvement of
certain land; and providing that this Act shall apply for
all taxable years on or after a certain date.
BY repealing and reenacting, with amendments,
Article 81 - Revenue and Taxes
Section 280(c)(13) and (14) and 280A(c)(6) and (7)
Annotated Code of Maryland
(1980 Replacement Volume and 1982 Supplement)
BY adding to
Article 81 - Revenue and Taxes
Section 280(c)(15) and 280A(c)(8)
Annotated Code of Maryland
(1980 Replacement Volume and 1982 Supplement)
BY adding to
Article 81 - Revenue and Taxes
Section 323C and 323D 280C and 280D
Annotated Code of Maryland
(1980 Replacement Volume and 1982 Supplement)
BY adding to
Article - Natural Resources
Section 5-219
Annotated Code of Maryland
(1974 Volume and 1982 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article 81 - Revenue and Taxes
280.
(c) There shall be subtracted from federal adjusted gross
income:
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(13) For the taxable year 1980 only, to the extent
otherwise includable in net income, interest received by an
individual, not to exceed $200 annually for a single individual
and $400 annually for a married couple; [and]
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