Legislation

Title: Income Tax - Subtraction Modification for Qualified Higher Education Expenses - Annual Limitation
Sponsored by: Delegates Malone and Hornberger
Status: In the House - Hearing 3/09 at 1:00 p.m. (Ways and Means)
Analysis: Fiscal and Policy Note

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.

Committees

Original:: Ways and Means Click to view Recorded Media; Appropriations

Details

Bill File Type: Regular

Effective Date(s): July 1, 2018

History

Legislation History
Chamber House Calendar Date 2/09/2018 Legislative Date 2/09/2018 Action First Reading Ways and Means and Appropriations Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax - Subtraction Modification for Qualified Higher Education Expenses - Annual Limitation Proceedings
Chamber House Calendar Date 2/12/2018 Legislative Date 2/12/2018 Action Hearing 3/09 at 1:00 p.m. (Ways and Means) Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	2/09/2018	2/09/2018	First Reading Ways and Means and Appropriations
			Text - First - Income Tax - Subtraction Modification for Qualified Higher Education Expenses - Annual Limitation
House	2/12/2018	2/12/2018	Hearing 3/09 at 1:00 p.m. (Ways and Means)

File Code

Subjects

Statutes