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SB 968

Enacted
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Income Tax - Captive Real Estate Investment Trusts - Alterations

Sponsor: Nancy J. King (District 39)Committee: Budget and TaxationSubject: Taxes - IncomeStatus: Approved by the Governor - Chapter 478 (as of Nov 9, 2023)

What this bill does

Official synopsis

Altering the definition of 'captive REIT' for purposes of a certain addition modification under the Maryland income tax in the amount of the federal dividends paid deduction for captive real estate investment trusts to exclude, under certain circumstances, corporations, trusts, or associations owned or controlled by certain qualified foreign entities and certain trusts owned or controlled by a listed Australian property trust.

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Testimony (9)

MGA witness list
FAV 9Favorable
PositionWitnessOrganizationTestimony
FAVPittman, SteuartAnne Arundel County ExecutiveWritten (PDF)
FAVGregory, JamielobbyistCalfeeOral + Written (PDF)
FAVJohansen, MichaellobbyistRWLOral
FAVJohansen, MichaellobbyistRWLWritten (PDF)
FAVKing, Senator NancyIndividualWritten (PDF)
FAVKing, Senator NancyIndividualWritten (PDF)
FAVNancy King, SenatorIndividualWritten (PDF)
FAVSenator King, Senator KinglegislatorIndividualOral
FAVSenator King, Senator KinglegislatorIndividualOral

Organizations on record

Registered lobbyists who testified

FAVGregory, JamieCalfeeRegistered for: Airbnb, Inc.; Consumer Action for a Strong Economy; First American Title Insurance Company; Omega Flex, Inc; Unibail-Rodamco-Westfield; Leda Health
FAVJohansen, MichaelRWLRegistered for: 1/ST Racing MD LLC; ASC Engineered Solutions; Access Holdings Management Company, LLC; Alterwood Health, Inc.; Ashley, Inc.; Baltimore Streetcar Museum
FAVJohansen, MichaelRWLRegistered for: 1/ST Racing MD LLC; ASC Engineered Solutions; Access Holdings Management Company, LLC; Alterwood Health, Inc.; Ashley, Inc.; Baltimore Streetcar Museum