Bill > SB933

This bill makes several revisions to Maryland's 529 plans and student loan debt relief tax credit: 1. It renames the Maryland College Investment Plan and Prepaid College Trust to include a reference to Senator Edward J. Kasemeyer. 2. It requires the Maryland 529 Board to develop an application form for the state contribution program that includes permission to confirm Maryland taxable income and allows for certification of Maryland residency. 3. It increases the state contribution amounts and appropriation levels for the state contribution program. 4. It requires the Board to develop and implement an outreach and marketing plan to provide notification about the state contribution program. 5. It increases the total annual cap on the student loan debt relief tax credit from $5 million to $9 million. 6. It provides a one-time $250 state contribution for eligible account holders who made a contribution in 2017 but missed the contribution deadline.