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 expands the college savings plan deductions allowed under Massachusetts state law. Specifically, it amends the existing law to allow deductions for 529 college savings plans established not just by the Commonwealth of Massachusetts, but by any authority authorized under federal U.S.C. 529 law. This change broadens the types of 529 plans that can qualify for the state tax deduction, potentially encouraging more residents to save for higher education expenses through a wider range of 529 plan options.
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
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H2965 |
| Bill | https://malegislature.gov/Bills/192/H2965.pdf |
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