MD SB413 | 2020 | Regular Session
Status
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Introduced on January 27 2020 - 25% progression, died in committee
Action: 2020-02-10 - Hearing 2/12 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 27 2020 - 25% progression, died in committee
Action: 2020-02-10 - Hearing 2/12 at 1:00 p.m.
Pending: Senate Budget and Taxation Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Authorizing a credit against the State income tax for certain individuals with outstanding student loan debt during the taxable year if the debt was incurred to attend an institution of higher education, an associate, bachelor's, graduate, or postgraduate degree was obtained, and the individual is employed full-time by a Maryland-based employer in a certain field; authorizing certain individuals, on or before December 1 each year, to apply for the credit; etc.
Title
Income Tax Credit – Individuals Working in STEM Fields – Student Loan Payments
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2020-02-10 | Senate | Hearing 2/12 at 1:00 p.m. |
| 2020-02-10 | Senate | Hearing canceled |
| 2020-01-29 | Senate | Hearing 2/12 at 2:00 p.m. |
| 2020-01-27 | Senate | First Reading Budget and Taxation |
Subjects
Commerce, Department of
Engineers
Equipment
Health
Higher Education
Higher Education Commission
Income Tax
Industry and Technology
Loans
Notices
Revenue and Taxes
Rules and Regulations
Tax Credits
Taxes - Income
Telecommunications and Information Technology
Engineers
Equipment
Health
Higher Education
Higher Education Commission
Income Tax
Industry and Technology
Loans
Notices
Revenue and Taxes
Rules and Regulations
Tax Credits
Taxes - Income
Telecommunications and Information Technology
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| Tax - General | 10 | 751 | (n/a) | See Bill Text |
Maryland State Sources
| Type | Source |
|---|---|
| Summary | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0413?ys=2020RS |
| Text | https://mgaleg.maryland.gov/2020RS/bills/sb/sb0413f.pdf |
