§ 2-606. Disbursement to unallocated revenue account
West's Annotated Code of MarylandTax-GeneralEffective: June 1, 2020
Effective: June 1, 2020
MD Code, Tax - General, § 2-606
§ 2-606. Disbursement to unallocated revenue account
(a) After making the distributions required under §§ 2-604, 2-605, and 2-605.1 of this subtitle, from the remaining income tax revenue from individuals, the Comptroller shall distribute to an unallocated individual revenue account the income tax revenue:
(b)(1) In June of each year, from current collections, the Comptroller shall reserve an amount of unallocated revenue that the Comptroller estimates will be claimed on returns and refunded to taxpayers within 3 years of the date the income tax return was due to be filed, and distribute to each county, municipal corporation, and special taxing district a pro rata share of the balance of the unallocated individual income tax revenue.
(2) The Comptroller shall adjust the amount distributed under paragraph (1) of this subsection to a county, municipal corporation, or special taxing district to allow for the proportionate part of tax claim payments for a prior calendar year made after a distribution is made to the county, municipal corporation, or special taxing district for that year.
(c)(1) To compute the pro rata share for a county, the Comptroller shall:
(d) On or before June 30, 2009, the Comptroller shall distribute $366,778,631 from the Local Reserve Account established to comply with this section to the General Fund of the State.
(e) On or before June 30, 2010, the Comptroller shall distribute $350,000,000 from the Local Reserve Account established to comply with this section to the Education Trust Fund established under § 9-1A-30 of the State Government Article.
(f) On or before June 30, 2011, the Comptroller shall distribute $200,000,000 from the Local Reserve Account established to comply with this section to the General Fund of the State for use in funding the Maryland Medicaid Program for fiscal year 2011.
(g)(1) On or before June 30, 2013, the Comptroller shall distribute $15,379,979 from the Local Reserve Account established to comply with this section to a special fund established in the Department of Transportation for the purpose of providing transportation grants to municipalities.
(h) For fiscal year 2017 and each fiscal year thereafter, in addition to the amounts distributed under subsection (b) of this section, the Comptroller shall distribute $10,000,000 of the remaining income tax revenue from individuals to the Local Reserve Account established to comply with this section.
(i) For fiscal years 2024 through 2043, in addition to the amounts distributed under subsections (b) and (h) of this section, the Comptroller shall distribute $10,000,000 of the remaining income tax revenue from individuals to the Local Reserve Account established to comply with this section.
Credits
Added by Acts 1988, c. 2, § 1, eff. Jan. 1, 1989. Amended by Acts 1991, c. 487, § 3; Acts 2004, c. 430, § 1, eff. June 1, 2004; Acts 2009, c. 487, § 1, eff. June 1, 2009; Acts 2010, c. 484, § 5, eff. June 1, 2010; Acts 2010, c. 484, § 6, eff. Jan. 1, 2011; Acts 2012, c. 6, § 2, eff. April 10, 2012; Acts 2013, c. 425, § 1, eff. June 1, 2013; Acts 2015, c. 489, § 1, eff. June 1, 2015; Acts 2018, c. 10, § 1, eff. June 1, 2018; Acts 2018, c. 361, § 1, eff. June 1, 2018; Acts 2020, c. 538, § 6, eff. June 1, 2020.
Formerly Art. 81, §§ 323, 323B.
MD Code, Tax - General, § 2-606, MD TAX GENERAL § 2-606
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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