HOUSE BILL 257

Sponsored By:

The Speaker (Administration) and Delegates Rawlings, Shriver, Heller, Mossburg, Workman, Dembrow, Kopp, Marriott, Cadden, McIntosh, Rudolph, Slade, Miller, Proctor, W. Baker, Branch, Bonsack, Boston, Bozman, E. Burns, Crumlin, C. Davis, Doory, Edwards, Finifter, Franchot, Grosfeld, Harrison, Hecht, Howard, B. Hughes, Jones, Kach, Kagan, Krysiak, Love, McKee, Menes, C. Mitchell, Moe, Montague, T. Murphy, Nathan-Pulliam, Oaks, Petzold, Pitkin, Turner, Walkup, Leopold, Healey, and Muse

Entitled:

Income Tax - Subtraction Modification for Maryland Higher Education Investment Program Earnings

Synopsis:

Providing an income tax subtraction modification for certain amounts included in federal adjusted gross income as a result of a benefit given to a beneficiary pursuant to a higher education investment contract under the Maryland Higher Education Investment Program; and providing that the subtraction does not apply to a refund under the Maryland Higher Education Investment Program unless the refund is applied on behalf of the beneficiary to the cost of tuition at an institution of higher education.

History by Legislative Date

House Action

1/28

First Reading Ways and Means

1/27

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

2/23

Favorable with Amendments Report by Ways and Means

2/24

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

2/27

Special Order 3/3 (Delegate Schisler) Adopted

3/3

Third Reading Passed (135-0)

4/11

Return Passed

5/21

Signed by the Governor Chapter 571

Senate Action

3/4

First Reading Budget and Taxation

4/13

Favorable Report by Budget and Taxation

4/12

Favorable Report Adopted

Second Reading Passed

4/13

Third Reading Passed (47-0)

Sponsored by:

Speaker of the House of Delegates

Administration

Delegate Wheeler R. Baker, District 36

Delegate Rose Mary Hatem Bonsack, District 34

Delegate Frank D. Boston, Jr., District 41

Delegate K. Bennett Bozman, District 38

Delegate Talmadge Branch, District 45

Delegate Emmett C. Burns, Jr., District 10

Delegate Joan Cadden, District 31

Delegate Michael A. Crumlin, District 25

Delegate Clarence Davis, District 45

Delegate Dana Lee Dembrow, District 20

Delegate Ann Marie Doory, District 43

Delegate George C. Edwards, District 1A

Delegate Michael J. Finifter, District 11

Delegate Peter Franchot, District 20

Delegate Sharon M. Grosfeld, District 18

Delegate Hattie N. Harrison, District 45

Delegate Anne Healey, District 22A

Delegate Sue C. Hecht, District 3

Delegate Henry B. Heller, District 19

Delegate Carolyn J. B. Howard, District 24

Delegate Brenda B. Hughes, District 25

Delegate Adrienne A. Jones, District 10

Delegate A. Wade Kach, District 9A

Delegate Cheryl C. Kagan, District 17

Delegate Nancy K. Kopp, District 16

Delegate Carolyn J. Krysiak, District 46

Delegate John R. Leopold, District 31

Delegate Mary Ann E. Love, District 32

Delegate Salima Siler Marriott, District 40

Delegate Maggie L. McIntosh, District 42

Delegate Robert A. McKee, District 2A

Delegate Pauline H. Menes, District 21

Delegate Ellen L. Willis Miller, District 5

Delegate Clarence M. Mitchell, IV, District 44

Delegate Brian R. Moe, District 21

Delegate Kenneth C. Montague, Jr., District 43

Delegate Mathew Mossburg, District 39

Delegate Timothy D. Murphy, District 47A

Delegate C. Anthony Muse, District 26

Delegate Shirley Nathan-Pulliam, District 10

Delegate Nathaniel T. Oaks, District 41

Delegate Carol Stoker Petzold, District 19

Delegate Joan B. Pitkin, District 23

Delegate James E. Proctor, Jr., District 27A

Delegate Howard P. Rawlings, District 40

Delegate David D. Rudolph, District 35B

Delegate Mark K. Shriver, District 15

Delegate John F. Slade, III, District 29B

Delegate Frank S. Turner, District 13A

Delegate Mary Roe Walkup, District 36

Delegate Betty Workman, District 1B

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 (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments:

House

Number: 045840/4 (PDF)     Offered on: February 24, 1998   at: 10:41 a.m.     Status: Adopted

Roll Call Votes (Legislative dates are shown):

House

March 3, 1998: Third Reading Passed (135-0)

Senate

April 13, 1998: Third Reading Passed (47-0)