2005 Regular Session

HOUSE BILL 444

File Code: Higher Education
Sponsored By:
Delegates Franchot, Benson, Bronrott, Burns, Conroy, Hubbard, and Mandel
Entitled:
Income Tax Reform - Revenues for Higher Education

Synopsis:

Establishing the Public Higher Education Fund to supplement General Fund appropriations to public senior higher education institutions; specifying that the Fund is a special, nonlapsing fund; increasing the State income tax rate to 5.25% on individuals whose Maryland taxable income exceeds $200,000 (single) and $250,000 (joint returns); and requiring the Comptroller to distribute the additional income tax revenue resulting from the Act to the Fund.

History by Legislative Date

House Action
2/2
First Reading Ways and Means
2/8
Hearing 2/15 at 1:00 p.m.
3/7
Unfavorable Report by Ways and Means
Senate Action
No Action

Sponsored by:

Delegate Peter Franchot, District 20
Delegate Joanne C. Benson, District 24
Delegate William A. Bronrott, District 16
Delegate Emmett C. Burns, Jr., District 10
Delegate Mary A. Conroy, District 23A
Delegate James W. Hubbard, District 23A
Delegate Adrienne A. Mandel, District 19

Bill indexed under the following Subjects:

COMPTROLLER
HIGHER EDUCATION -see also- COMM COLLEGES; MED SCHOOLS; etc.
HIGHER EDUCATION COMMISSION
INCOME TAX
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
STATE UNIVERSITIES AND COLLEGES

Bill affects the following Statutes:

Education
( 15-106.5 )
Tax - General
( 2-608.2 , 2-609 , 10-105 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered