summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to prevent diversion of public revenue to private schools. Revenue.
AI Summary
This bill aims to prevent the diversion of public revenue to private schools. It does this by amending the Massachusetts tax code to include withdrawals from state-sponsored college savings accounts (known as "529 accounts") used to pay for elementary or secondary school expenses as taxable income. The bill specifies that such withdrawals will be attributed first to the earnings and gains on the 529 account, then to previous tax-deductible contributions, and finally to already-taxed contributions. Additionally, the bill excludes elementary and secondary school expenses from the definition of "qualified higher education expenses" for 529 account purposes.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied a study order, see H5080 (on 11/02/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S1684 |
| Bill | https://malegislature.gov/Bills/191/S1684.pdf |
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