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
Relative to increasing college savings plan deductions. Revenue.
AI Summary
This bill proposes to increase the maximum deduction amount for contributions to college savings plans, also known as 529 plans, from $1,000 to $5,000 for individual taxpayers and from $2,000 to $10,000 for joint filers. This change would allow taxpayers to deduct more of their contributions to 529 plans, which are tax-advantaged accounts used to save for qualified higher education expenses, such as tuition, fees, and room and board.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Accompanied a study order, see H4894 (on 09/22/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H2964 |
| Bill | https://malegislature.gov/Bills/192/H2964.pdf |
Loading...