HOUSE BILL 126

Sponsored By:

Delegates Leopold, Heller, Cadden, and Mossburg

Entitled:

Maryland Higher Education Investment Program - Income Tax Subtraction Modification

Synopsis:

Providing a subtraction modification under the Maryland income tax for amounts included in federal adjusted gross income as a result of a benefit furnished to a qualified beneficiary pursuant to a higher education investment contract under the Maryland Higher Education Investment Program; and providing that the subtraction does not apply to refunds issued under the Program.

History by Legislative Date

House Action

1/16

First Reading Ways and Means

1/21

Hearing 2/5 at 11:00 a.m.

2/23

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Delegate John R. Leopold, District 31

Delegate Joan Cadden, District 31

Delegate Henry B. Heller, District 19

Delegate Mathew Mossburg, District 39

Bill indexed under the following Subjects:

EXEMPTIONS

HIGHER EDUCATION -see also- STATE UNIVERSITIES AND COLLEGES.

INCOME TAX

INVESTMENTS -see also- SECURITIES

TUITION

Bill affects the following Statutes:

Tax - General

( 10-207 , 10-207 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments: None offered