Maryland legislation · 2026 Regular Session
Maryland HB1204: Primary and Secondary Education - Education Savings Account Program - Establishment
Status: Failed, March 16, 2026
Establishing the Education Savings Account Program in the State administered by the State Department of Education; providing that on a quarterly basis the State shall deposit into an account of an eligible student a certain percentage of the per pupil amount of State and local funds for each education program in the resident school district for which the eligible student would be included in the enrollment count; allowing a subtraction modification under the State income tax for deposits into an education savings account; etc.
What the bill says
A bill ENTITLED AN ACT concerning Primary and Secondary Education - Education Savings Account Program - Establishment FOR the purpose of establishing the Education Savings Account Program in the State administered by the State Department of Education; allowing a subtraction modification under the State income tax for deposits into an education savings account; and generally relating to the Education Savings Account Program. BY adding to Article - Education Section 9.12-101 through 9.12-106 to be under the new title "Title 9.12…
From the introduced text, February 12, 2026:
A BILL ENTITLED AN ACT concerning Primary and Secondary Education - Education Savings Account Program - Establishment FOR the purpose of establishing the Education Savings Account Program in the State administered by the State Department of Education; allowing a subtraction modification under the State income tax for deposits into an education savings account; and generally relating to the Education Savings Account Program. BY adding to Article - Education Section 9.12-101 through 9.12-106 to be under the new title "Title 9.12. Education Savings Account Program" Annotated Code of Maryland (2022 Replacement Volume and 2025 Supplement) BY repealing and reenacting, without amendments, Article - Tax - General Section 10-208(a) Annotated Code of Maryland (2022 Replacement Volume and 2025 Supplement) BY adding to Article - Tax - General Section 10-208(dd) Annotated Code of Maryland (2022 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Education EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW. [Brackets] indicate matter deleted from exist in g l aw . *hb1204* HOUSE BILL 1204 TITLE 9.12. EDUCATION SAVINGS ACCOUNT PROGRAM. 9.12-101. (A) IN THIS TITLE THE FOLLOWING WORDS HAVE THE MEANINGS INDICATED. (B) "ACCOUNT" MEANS AN EDUCATION SAVINGS ACCOUNT OPENED WITH A PRIVATE FINANCIAL MANAGEMENT FIRM OR SIMILAR ENTITY THAT IS QUALIFIED …