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ROBERT L. EHRLICH, JR., Governor Ch. 46
(5) "Nonresident entity" means an entity that is not formed under the
laws of the State and is not qualified by or registered with the Department of
Assessments and Taxation to do business in the State.
(6) "Nonresident taxable income" means any income described in §
10-210(b)(1) through (4) of this title.
(7) "Pass-through entity" means:
(i) an S corporation;
(ii) a partnership; [or]
(iii) a limited liability company that is not taxed as a corporation
under this title; OR
(IV) A BUSINESS TRUST THAT IS NOT TAXED AS A CORPORATION
UNDER THIS TITLE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2006, and shall be applicable to all taxable years beginning after
December 31, 2005.
Enacted April 7, 2006.
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CHAPTER 46
(Senate Bill 370)
AN ACT concerning
Creation of a State Debt - Maryland Consolidated Capital Bond Loan of
2006; and the Maryland Consolidated Capital Bond Loans of 1997, 1998, 1999,
2000, 2001, 2002, 2003, 2004, and 2005, and the Southern Maryland Regional
Strategy-Action Plan for Agriculture Loans of 2006, 2007, 2008, and 2009
FOR the purpose of authorizing the creation of a State Debt in the amount of Six
Hundred Sixty Nino Million, Three Hundred Fifty Eight Thousand Dollars
($669,358,000), Seven Hundred Eight Million, Eight Hundred Eighty-Four
Thousand, Four Dollars ($708,884,004); Seven Hundred Eleven Million, One
Hundred Fifty-Seven, Eight Hundred Thirty-Three Dollars ($711,157,833), the
proceeds to be used, subject to certain restrictions, for certain necessary building,
construction, demolition, planning, renovation, conversion, replacement, and
capital equipment purchases of this State, for acquiring certain real estate in
connection therewith, and for grants to certain subdivisions and other
organizations for certain development and improvement purposes, subject to the
requirement that certain grantees provide and expend certain matching funds
by certain dates; stating the intent of the General Assembly that funds be
provided for certain projects in certain fiscal years; requiring the Interagency
Committee on School Construction to allocate certain funds available for public
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