HOUSE BILL 1121

File Code: Higher Education

Sponsored By:

Delegates Shriver and Taylor

Entitled:

Maryland College Tuition Savings Plan

Synopsis:

Establishing the Maryland College Tuition Savings Plan to allow contributions to tax-advantaged accounts to meet higher education expenses; requiring the Board of the Maryland Higher Education Investment Program to administer the plan; requiring the Board to maintain the plan in compliance with I.R.S. standards for qualified state tuition programs; providing an income tax subtraction for contributions to accounts; providing an addition for distributions to the extent not used for higher education expenses; etc.

History by Legislative Date

House Action

2/24

First Reading House Rules

3/1

Re-referred Ways and Means

3/5

Re-assigned Appropriations

3/10

Hearing 3/24 at 1:00 p.m.

Senate Action

No Action

Sponsored by:

Delegate Mark K. Shriver, District 15

Delegate Casper R. Taylor, Jr., District 1C

Bill indexed under the following Subjects:

AUDITORS AND AUDITS

COMMITTEES AND COMMISSIONS -see also- POLITICAL COMMITTEES

EXEMPTIONS

HIGHER EDUCATION -see also- STATE UNIVERSITIES AND COLLEGES.

INCOME TAX

INVESTMENTS -see also- SECURITIES

REPORTS -see also- RECORDS

RULES AND REGULATIONS

TUITION

Bill affects the following Statutes:

Education

( 18-19A-01 , 18-19A-02 , 18-19A-03 , 18-19A-04 , 18-19A-05 , 18-19A-06 , 18-19A-07 )

Tax - General

( 10-205 , 10-205 , 10-208 , 10-208 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered