Martin O'Malley, Governor

Ch. 3

(ii) shall be:

1. made under oath and signed in the same
manner as required for income tax returns under § 10-804 of this
subtitle; and

2. subject to audit by the comptroller in the
course of and under the normal procedures applicable to
corporate income tax return audits: and

(iii) notwithstanding any other provision of law,
shall be treated as confidential taxpayer information subject to
title 13, subtitle 2 of this article.

(2)      the statements required under this section for the
members of a corporate group shall be submitted by the corporate
group in one combined report that includes the information
required under subsections (b) and (c) of this section for all
members of the corporate group.

(3)      The Comptroller shall develop and implement an
oversight system to ensure that corporations doing business in the
State, including those not required to file a return under this
title, provide the required disclosure statements in a timely and
accurate manner.

(4)     a person who is required to file a statement under
this section who willfully fails to file the statement or who files a
false statement is guilty of a misdemeanor and. on conviction, is
subject to a fine not exceeding $10,000 or imprisonment not
exceeding 5 years or both.

(5)      The Comptroller shall publish the name of, and
penalty imposed on, any corporation failing to file a statement
required under this section or filing an inaccurate statement.

(e) (1) a corporation submitting a statement required
under this section may submit supplemental information that, in its
sole judgment and discretion. could facilitate proper
interpretation of the information included in the statement.

(2) a corporation shall file a supplemental statement
under this section within 60 days after:

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