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SB 805

Income Tax - Student Loan Debt Relief Tax Credit - Alterations

2026 Regular Session Introduced by Shelly Hettleman

SB 805 modifies Maryland's student loan debt relief tax credit eligibility or benefit structure, affecting resident repayment support and state tax revenue.

Approved by the Governor - Chapter 755
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Bill Summary · SB 805

Legislative bill overview

SB 805 proposes to modify Maryland's existing student loan debt relief tax credit program. The bill alters the parameters, eligibility requirements, or benefit structure of the state's current tax credit designed to help residents manage student loan repayment obligations.

Why is this important

Student loan debt affects Maryland residents' financial stability and economic participation. Tax credits targeting this burden can influence whether graduates remain in the state and their ability to afford housing, start businesses, or save for retirement. The specific alterations could expand or contract who benefits and by how much.

Potential points of contention

  • Cost to state budget: Expanding the credit increases foregone tax revenue; limiting it may reduce support for struggling borrowers during economic uncertainty
  • Equity and targeting: Questions about whether benefits should favor recent graduates, lower-income borrowers, certain professions (teachers, healthcare workers), or all debtors equally
  • Interplay with federal programs: Unclear how Maryland's state credit coordinates with federal student loan forgiveness initiatives and whether state/federal benefits should stack or offset

Compiled from official sources — confirm details with the bill’s official record.

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