Bill > S1604

This bill proposes to amend Massachusetts General Laws, chapter 62, section 3B, which deals with tax deductions. Specifically, it allows individuals to deduct from their taxable income amounts spent on purchasing an interest in or contributing to a prepaid tuition program or a state college savings program. These programs are established by the Commonwealth of Massachusetts or its agencies. The funds from these programs can be used for a broad range of educational expenses, including private school tuition and fees, education therapy services and aides, textbooks, private online learning courses, Advanced Placement exams, achievement tests, college admissions exams, tutoring, curriculum, and college textbooks. The deduction is capped at $5,000 per taxpayer, and for married couples filing jointly, the total deduction is limited to $10,000 per taxable year.