MD HB1326

Establishes the Prekindergarten Savings Account Program administered by the State Department of Education, providing state grants to parents of eligible prekindergarten students for nonpublic education expenses

State deposits quarterly payments into accounts: 75% of per-pupil state and local funding for families at or below 500% of federal poverty level, 50% for families above that threshold

Funds may be used for qualifying nonpublic prekindergarten tuition and fees, textbooks, uniforms, private tutoring, curricular materials, online learning programs, and services for students with disabilities

Parents must sign agreements to provide conforming early childhood education, meet attendance requirements, release the public school district from educational obligations, and return unused funds upon program completion

Creates a Maryland income tax subtraction for additional parental deposits into these education savings accounts, effective for taxable years beginning after December 31, 2024