Legislation

Title: Income Tax Subtraction Modification - College Savings Plan Accounts - Contributions (College Savings Tax Enhancement Act)
Sponsored by: Senators King, Feldman, Guzzone, Kagan, Lee, Manno, Peters, Robinson, Young, and Zucker
Status: In the Senate - Hearing 2/28 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Increasing, from $2,500 to $5,000, the amount of a subtraction modification under the Maryland income tax for contributions made by certain individuals whose federal adjusted gross income does not exceed $225,000 or, in the case of a single individual or a married individual filing a separate return, $150,000 to certain college savings plan accounts; applying the Act to taxable years beginning after December 31, 2017; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Details

Cross-filed with: HB0131

Bill File Type: Regular

Effective Date(s): July 1, 2018

History

Legislation History
Chamber Senate Calendar Date 2/01/2018 Legislative Date 2/01/2018 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Income Tax Subtraction Modification - College Savings Plan Accounts - Contributions (College Savings Tax Enhancement Act) Proceedings
Chamber Senate Calendar Date 2/07/2018 Legislative Date 2/07/2018 Action Hearing 2/28 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/01/2018	2/01/2018	First Reading Budget and Taxation
			Text - First - Income Tax Subtraction Modification - College Savings Plan Accounts - Contributions (College Savings Tax Enhancement Act)
Senate	2/07/2018	2/07/2018	Hearing 2/28 at 1:00 p.m.

File Code

Subjects

Statutes