Maryland College Investment Plan – Subtraction Modification Amounts and Eligibility and Establishment of Accounts
Sponsor: Tiffany T. Alston (District 24)Committee: Ways and MeansSubject: Taxes - IncomeStatus: Hearing 3/02 at 1:00 p.m. (Ways and Means) (as of Nov 9, 2023)
What this bill does
Official synopsis
Altering eligibility for and the calculation of the subtraction modification under the Maryland income tax for certain contributions to 529 investment accounts; requiring the State to establish an investment account on behalf of each ward of the State; prohibiting the inclusion of the balance in or distribution from an investment account to determine eligibility for State benefits; etc.
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Testimony (2)
MGA witness listFAV 2Favorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | O'Day, Garrettlobbyist | Maryland Catholic Conference | Written (PDF) |
| FAV | Delegate Alston, Delegate Alstonlegislator | Individual | Oral |