Bill > HB680

Introduced Session

AN ACT concerning Income Tax - Student Loan Debt Relief Tax Credit - Alterations FOR the purpose of increasing the total amount of credits against the State income tax that the Maryland Higher Education Commission may approve in a taxable year for certain individuals with certain student loan debt amounts; requiring the Commission to reserve a certain amount of the total amount of credits that the Commission is authorized to approve for certain qualified taxpayers; extending the period of time that an individual who claims the credit has to prove that the individual used the credit to repay the individual’s student loan debt; requiring the Office of Student Financial Assistance to inform certain recipients of scholarships of the availability of the credit under this Act; providing for the retroactive application of certain provisions of this Act; and generally relating to the Student Loan Debt Relief Tax Credit. BY repealing and reenacting, with amendments, Article - Tax - General Section 10-740 Annotated Code of Maryland (2022 Replacement Volume) BY adding to Article - Education Section 18-206 Annotated Code of Maryland (2022 Replacement Volume)

AI Summary

Committee Categories

Karen Toles (D)*,  Jackie Addison (D),  Tiffany Alston (D),  Marlon Amprey (D),  Vanessa Atterbeary (D),  Darryl Barnes (D),  Sandy Bartlett (D),  Adrian Boafo (D),  Regina Boyce (D),  Tony Bridges (D),  Nick Charles (D),  Elizabeth Embry (D),  Jessica Feldmark (D),  Kevin Harris (D),  Andrea Harrison (D),  Shaneka Henson (D),  Terri Hill (D),  Marvin Holmes (D),  Carl Jackson (D),  Mary Lehman (D),  Jeff Long (D),  Aletheia McCaskill (D),  Julie Palakovich Carr (D),  Cheryl Pasteur (D),  Edith Patterson (D),  Scott Phillips (D),  Sheree Sample-Hughes (D),  Gary Simmons (D),  Stephanie Smith (D),  Kym Taylor (D),  Veronica Turner (D),  Melissa Wells (D),  Jheanelle Wilkins (D),  Jamila Woods (D), 

Approved by the Governor - Chapter 738 (on 05/16/2023)

Official Document