MD HB1204

Establishes the Education Savings Account Program administered by the State Department of Education, providing state grants to parents of eligible students for K-12 educational expenses at qualifying nonpublic schools

Eligible students must have attended a Maryland public school, charter school, or home school for at least 100 days in the preceding fiscal year, with an exemption for children of active duty military members stationed in the state

Grant amounts are 75% of per-pupil state and local funding for families at or below 500% of the federal poverty level, and 50% for families above that threshold, deposited quarterly into accounts managed by qualified private financial firms

Funds may be used for private school tuition, textbooks, uniforms, private tutoring, curriculum materials, online learning programs, exam fees, special education services, and other department-approved educational expenses

Parents may deposit additional funds on a pre-tax basis through a new state income tax subtraction modification; unused funds must be returned to the state upon graduation or withdrawal from a qualifying school