MD HB351 | 2021 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 13 2021 - 25% progression, died in committee
Action: 2020-12-22 - Hearing 1/21 at 1:30 p.m.
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 13 2021 - 25% progression, died in committee
Action: 2020-12-22 - Hearing 1/21 at 1:30 p.m.
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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 certain payments or contributions made by an account holder or a contributor under a Maryland Prepaid College Trust contract, the Maryland Senator Edward J. Kasemeyer College Investment Plan, and the Maryland Broker-Dealer College Investment Plan; and applying the Act to taxable years beginning after December 31, 2020.
Title
Income Tax – Subtraction Modification for Qualified Higher Education Expenses – Annual Limitation
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2020-12-22 | House | Hearing 1/21 at 1:30 p.m. |
| 2020-12-22 | House | Hearing canceled |
| 2020-12-22 | House | Hearing 1/21 at 1:00 p.m. |
| 2021-01-13 | House | First Reading Ways and Means |
| 2020-10-28 | House | Pre-filed |
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 208 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0351?ys=2021RS |
| Text | https://mgaleg.maryland.gov/2021RS/bills/hb/hb0351f.pdf |
