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2018 Regular Session



Income Tax - Subtraction Modification for Qualified Higher Education Expenses - Annual Limitation

Sponsored by:

Delegate Malone


In the House - Hearing 3/09 at 1:00 p.m. (Ways and Means)

Synopsis:Increasing, from $2,500 to $5,000, the maximum amount allowed in a taxable year as a subtraction modification under the Maryland income tax for advance payments of certain qualified higher education expenses made by an account holder or a contributor under a Maryland Prepaid College Trust contract; and applying the Act to taxable years beginning after December 31, 2017.
Analysis:Fiscal and Policy Note
All Sponsors:Delegates Malone and Hornberger
Additional Facts:Bill File Type: Regular
Effective Date(s): July 1, 2018
Ways and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Education - Miscellaneous
Narrow Subject(s):Exemptions
Higher Education -see also- Comm Colleges; Med Schools; etc.
Income Tax
Statutes:Article - Tax - General

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March 12, 2018 12:37 P.M.