Legislation to moderate the onerous corporate reporting requirements adopted during the November 2007 special session was unanimously passed by both houses earlier this week. Passage of this legislation is a Maryland Chamber priority.

The bills, SB 444/HB664, reduce the most onerous and unnecessary aspects of the reporting requirements while still gathering the data that the State needs for calculating more accurate fiscal note estimates on corporate tax matters.

The Maryland Chamber thanks Sen. Nancy King (D-Dist. 39) and Del. Kumar Barve (D. Dist. 17) for their leadership on this important issue to many Maryland businesses.