ROBERT L. EHRLICH, JR., Governor                           H.B. 753

under the Constitution of the United States shall be allocated to the State for
income tax purposes; requiring that certain sales of tangible personal property
be included in the numerator of the sales factor used for apportioning a
corporation's income to the State under certain circumstances; requiring certain
corporations under certain circumstances to include with an income tax return
or otherwise file with the Comptroller a certain statement regarding certain
dealings and transactions with related corporations; imposing recordation and
transfer taxes on the transfer of a controlling interest in certain entities owning
certain interests in real property in Maryland; requiring the filing of a certain
report; providing for a filing fee; establishing the rate of taxation and the
method of calculation of tax liability; exempting certain transfers; providing for
interest and a penalty for certain filings; requiring the Comptroller to assess
interest and penalty under certain circumstances; requiring the Comptroller to
conduct a certain study; requiring that certain revenues be deposited in the
General Fund rather than certain special funds; requiring the Comptroller and
the Department of Assessments and Taxation to adopt certain regulations;
defining certain terms; making the provisions' of this Act severable; providing for
the effective dates date and application of this Act; and generally relating to tax
administration and compliance taxes and revenues.

BY repealing and reenacting, with amendments,

Article 41—Governor—Executive and Administrative Departments

Section 18-105(b)(2) and (3)

Annotated Code of Maryland

(1997 Replacement Volume and 2003 Supplement)

BY repealing and reenacting, with amendments,

Article—Business Occupations and Professions

Section 1-204

Annotated Code of Maryland

(2000 Replacement Volume and 2002 Supplement)

BY adding to

Article—Business Regulation

Section 1-210

Annotated Code of Maryland

(1998 Replacement Volume and 2002 Supplement)

BY adding to

Article—Environment

Section 1-203

Annotated Code of Maryland

(1996 Replacement Volume and 2002 Supplement)

BY repealing and reenacting, with amendments,
Article—Environment

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