MA H3618

Bill

Incentivizing college savings

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to contributions to prepaid tuition or college saving programs. Revenue.

AI Summary

This bill aims to incentivize college savings by increasing the maximum deduction for contributions to prepaid tuition or college savings programs under Massachusetts' personal income tax law. Specifically, it raises the maximum deduction from $1,000 to $5,000 for individual filers and from $2,000 to $10,000 for joint filers. This change is intended to encourage more families to save for their children's or grandchildren's future college expenses.

Committee Categories

Budget and Finance

Sponsors (2)

Shawn Dooley (R), Mike Soter (R),

Last Action

Accompanied a study order, see H5040 (on 10/15/2020)

Official Document

https://malegislature.gov/Bills/191/H3618

(6 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H3618
Bill	https://malegislature.gov/Bills/191/H3618.pdf

Bill	Bill Name	Last Action	Type
H1138	To incentivize high-value care	Reporting date extended to Thursday December 31, 2020, pending concurrence	Similar To
H1176	Studying outpatient care costs	Reporting date extended to Thursday December 31, 2020, pending concurrence	Similar To
H1213	Creating a child savings program	Accompanied a study order, see H5209	Similar To
H2611	Relative to 529 savings plans	Accompanied a study order, see H5080	Similar To
H5040	Study Order - Property Taxes	Discharged to the committee on House Rules	Replaced by
S1684	Preventing diversion of public revenue to private schools	Accompanied a study order, see H5080	Similar To

Bill > H3618

MA H3618

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary