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2014 Regular Session



Income Tax Credit - Student Loan Payments

Sponsored by:

Delegate Reznik


In the House - Hearing 2/25 at 1:00 p.m.

Synopsis:Allowing a qualified taxpayer a credit against the State income tax for up to 50% of the qualified student loan payments made by the taxpayer during the taxable year; providing that the credit may not exceed the lesser of 20% of the average annual tuition during the taxable year at all institutions of higher education or $2,500; requiring the Comptroller to adopt specified regulations; defining specified terms; applying the Act to taxable years beginning after December 31, 2013; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Delegates Reznik, Rosenberg, and Luedtke
Additional Facts:Cross-filed with: SB0632
Bill File Type: Regular
Effective Date(s): July 1, 2014
Ways and Means   View Committee Hearing
Broad Subject(s):Taxes - Income
Education - Miscellaneous
Narrow Subject(s):Comptroller
Higher Education -see also- Comm Colleges; Med Schools; etc.
Income Tax
Loans -see also- Mortgages
Rules and Regulations
Scholarships and Student Financial Aid
Tax Credits -see also- Circuit Breaker

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October 24, 2017 1:51 P.M.