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PARRIS N. GLENDENING, Governor S.B. 140
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(iii) The number of [higher education investment] PREPAID
contracts entered into during the previous fiscal year;
(iv) Efforts by the Board in marketing the Program of [higher
education investment] PREPAID contracts; and
(v) Any recommendations of the Board concerning the operation of
the Program.
(2) The Board shall make available to each purchaser a copy of a
summary of the report and the option to purchase the full report at a nominal charge.
SUBTITLE 19A. MARYLAND COLLEGE INVESTMENT PLAN.
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18-19A-01.
(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
(B) "BOARD" MEANS THE MARYLAND HIGHER EDUCATION INVESTMENT
BOARD ESTABLISHED UNDER § 18-1904 OF THIS TITLE.
(C) "CONTRIBUTOR" MEANS THE PERSON WHO ESTABLISHES A COLLEGE AN
INVESTMENT PLAN ACCOUNT ON BEHALF OF A QUALIFIED DESIGNATED
BENEFICIARY.
(D) "ELIGIBLE EDUCATIONAL INSTITUTION" HAS THE MEANING STATED IN §
529(E) OF THE INTERNAL REVENUE CODE.
(E) "INVESTMENT ACCOUNT" MEANS AN ACCOUNT ESTABLISHED BY A
CONTRIBUTOR UNDER THIS SUBTITLE ON BEHALF OF A QUALIFIED DESIGNATED
BENEFICIARY FOR THE PURPOSE OF APPLYING DISTRIBUTIONS TOWARD QUALIFIED
HIGHER EDUCATION EXPENSES AT ELIGIBLE EDUCATIONAL INSTITUTIONS.
(F) "QUALIFIED DESIGNATED BENEFICIARY' HAS THE MEANING STATED IN §
529(E) OF THE INTERNAL REVENUE CODE.
(G) "QUALIFIED HIGHER EDUCATION EXPENSES" HAS THE MEANING STATED
IN § 529(E) OF THE INTERNAL REVENUE CODE.
(H) "QUALIFIED STATE TUITION PROGRAM" HAS THE MEANING STATED IN §
529 OF THE INTERNAL REVENUE CODE.
(I) "PLAN" MEANS THE MARYLAND COLLEGE INVESTMENT PLAN
ESTABLISHED UNDER THIS SUBTITLE.
18-19A-02.
(A) THERE IS A MARYLAND COLLEGE INVESTMENT PLAN.
(B) THE PURPOSE OF THE MARYLAND COLLEGE INVESTMENT PLAN IS TO
ALLOW CONTRIBUTIONS TO AN INVESTMENT ACCOUNT ESTABLISHED FOR THE
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- 3627 -
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