HOUSE BILL 154

File Code: Taxes - Income

Sponsored By:

Delegate Leopold

Entitled:

Income Tax - Subtraction Modification for Interest on Student Loans

Synopsis:

Providing a subtraction modification under the Maryland individual income tax for interest paid on indebtedness incurred to pay tuition, fees, room, and board for an individual or a dependent of an individual to attend an institution of higher education; providing that the subtraction does not include interest that is qualified residence interest under the Internal Revenue Code if the individual itemizes deductions; and applying the Act to tax years after 1995.

Legislative History

House Action

1/17

First Reading Ways and Means

1/31

Hearing 2/8 at 11:00 a.m.

3/14

Unfavorable Report by Ways and Means

Senate Action

No Action

Bill indexed under the following Subjects:

EXEMPTIONS

HIGHER EDUCATION -see also- STATE UNIVERSITIES AND COLLEGES.

INCOME TAX

INTEREST

LOANS

STUDENTS

TUITION

Bill affects the following Statutes:

Tax - General

( 10-208 , 10-208 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None available