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HB 1297

Income Tax - Student Loan Debt Relief Tax Credit - Alterations

2026 Regular Session Introduced by Julie Palakovich Carr

Maryland bill modifies student loan debt relief tax credit terms, affecting borrower assistance levels and state revenue allocation through altered eligibility or benefit structure.

Referred Rules
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Bill Summary · HB 1297

Legislative bill overview

HB 1297 modifies Maryland's existing Student Loan Debt Relief Tax Credit by altering its terms, eligibility requirements, or benefit structure. The bill is currently in early stages, having just been referred to the Ways and Means Committee for its first hearing scheduled for February 26, 2026.

Why is this important

Tax credits for student loan debt relief directly affect the financial burden on Maryland residents carrying education debt, potentially influencing household budgeting, consumer spending, and the state's tax revenue. Changes to credit structure can either expand assistance to more borrowers or reduce state costs, making this relevant to both taxpayers and individuals managing student loans.

Potential points of contention

  • Fiscal impact: Any expansion of the credit increases state revenue loss, while reductions may disappoint borrowers; the specific budgetary effect depends on the alterations proposed
  • Eligibility scope: Changes to who qualifies (income limits, loan types, residency requirements) could shift benefits between different borrower populations
  • Program sustainability: Long-term costs of enhanced credits versus available state resources, particularly if federal student loan policies change

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

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