summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
For legislation to promote access to higher education beginning at birth. Revenue.
AI Summary
This bill aims to promote access to higher education in Massachusetts by establishing a program where the Commonwealth deposits $5,000 into a separate account or the Massachusetts UFund for each child born to Massachusetts residents. The funds can be used by the child to pay for admission to a Massachusetts institution of higher education. The Department of Revenue will define any exceptions to this program, and there will be no tax implications on the initial deposit. The bill also allows for additional deposits to this fund, which will have the same federal and state tax implications as the Massachusetts UFund.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H4894 (on 09/22/2022)
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/192/S1901 |
| Bill | https://malegislature.gov/Bills/192/S1901.pdf |
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