Legislation

Title: Income Tax Credit - Individuals Working in STEM Fields - Student Loan Payments
Sponsored by: Senators Kramer, Feldman, Lam, and Peters
Status: In the House - Hearing 3/27 at 1:00 p.m.
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Authorizing a credit against the State income tax for certain individuals with outstanding student loan debt during the taxable year if the debt was incurred to attend an institution of higher education, a certain degree was obtained, and the individual is employed full-time by a Maryland-based employer in a certain field; authorizing certain individuals, on or before December 1 each year, to apply for the credit; providing the total amount of credits issued annually may not exceed $1,000,000; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means Click to view Recorded Media

Details

Introduced in a prior session as: HB0860 Session: 2018 Regular Session

Bill File Type: Regular

Effective Date(s): July 1, 2019

History

Legislation History
Chamber Senate Calendar Date 1/25/2019 Legislative Date 1/25/2019 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 1/25/2019 Legislative Date 1/25/2019 Action Hearing 2/06 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax Credit - Individuals Working in STEM Fields - Student Loan Payments Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/14/2019 Legislative Date 3/14/2019 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/14/2019 Legislative Date 3/14/2019 Action Favorable with Amendments {679738/1 Adopted Proceedings 46 Click to view Recorded Media
Chamber Senate Calendar Date 3/14/2019 Legislative Date 3/14/2019 Action Second Reading Passed with Amendments Proceedings 46 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Income Tax Credit - Individuals Working in STEM Fields - Student Loan Payments Proceedings
Chamber Senate Calendar Date 3/18/2019 Legislative Date 3/16/2019 Action Third Reading Passed (46-0) Proceedings 48 Click to view Recorded Media
Chamber House Calendar Date 3/19/2019 Legislative Date 3/15/2019 Action Referred Ways and Means Proceedings 50 Click to view Recorded Media
Chamber House Calendar Date 3/20/2019 Legislative Date 3/20/2019 Action Hearing 3/27 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	1/25/2019	1/25/2019	First Reading Budget and Taxation
Senate	1/25/2019	1/25/2019	Hearing 2/06 at 1:00 p.m.
			Text - First - Income Tax Credit - Individuals Working in STEM Fields - Student Loan Payments
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	3/14/2019	3/14/2019	Favorable with Amendments Report by Budget and Taxation
Senate	3/14/2019	3/14/2019	Favorable with Amendments {679738/1 Adopted	46 Click to view Recorded Media
Senate	3/14/2019	3/14/2019	Second Reading Passed with Amendments	46 Click to view Recorded Media
			Text - Third - Income Tax Credit - Individuals Working in STEM Fields - Student Loan Payments
Senate	3/18/2019	3/16/2019	Third Reading Passed (46-0)	48 Click to view Recorded Media
House	3/19/2019	3/15/2019	Referred Ways and Means	50 Click to view Recorded Media
House	3/20/2019	3/20/2019	Hearing 3/27 at 1:00 p.m.

File Code

Subjects

Statutes