Bill Positions

Bill Number: SB 275

Bill Title: Higher Education - Higher Education Investment Fund - Funding

Bill Sponsor(s): The President (Admin)

Subject: Budget & Tax

Committee: B&T

Bill Summary: This bill would have repealed the June 30, 2009 sunset on the dedication of corporate income tax revenues to the higher education investment fund.

History: During the 2007 special session the corporate income tax rate was increased by 1.25%. For FY 08 and 09, .5% of that rate increase was dedicated to a higher education investment fund, for the purpose of investing in higher education and workforce development, and keeping tuition affordable. Although SB 275 failed in the 2009 session, language in the Budget Reconciliation and Financing Act (HB 101) extended the Higher Education Investment Fund through FY 2010.

Chamber Position: Support

Position Summary: The availability of a well-educated workforce is an essential component of Maryland's economy. The quality of, and access to, higher education is a vital concern to Maryland's business community due to its impact on job renention and creation. The Chamber supports the continued funding of the higher education investment fund as a means of supporting the needs of higher education in Maryland.

Position Statement: Click here (pdf)

Chamber Staff: Ronald Wineholt

General Assembly: Click here to view the bill on the Maryland General Assembly's website.