Bill Text: MA H2833 | 2009-2010 | 186th General Court | Introduced
Bill Title: Provide for an income tax exemption for certain college savings plan contributions
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 7/22 at 10:00 AM in Hearing Room B2 [H2833 Detail]
Download: Massachusetts-2009-H2833-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Michael J. Moran
_______________
To the
Honorable Senate and House of Representatives of the Commonwealth of
Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act creating a tax exemption for college savings plan contributions.
_______________
PETITION OF:
|
Name: |
District/Address: |
|
Michael J. Moran |
18th Suffolk |
|
F. Jay Barrows |
1st Bristol |
|
Stephen R. Canessa |
12th Bristol |
|
Allen J. McCarthy |
7th Plymouth |
|
Bruce E. Tarr |
First Essex and Middlesex |
|
Thomas P. Kennedy |
Second Plymouth and Bristol |
|
Denise Provost |
27th Middlesex |
|
Richard J. Ross |
9th Norfolk |
|
Thomas M. Stanley |
9th Middlesex |
|
Kevin G. Honan |
17th Suffolk |
[SIMILAR MATTER FILED IN PREVIOUS
SESSION
SEE HOUSE, NO. 3042 OF 2007-2008.]
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
An Act creating a tax exemption for college savings plan
contributions.
Be
it enacted by the Senate and House of Representatives in General Court
assembled, and by the authority of the same, as follows:
SECTION 1. Paragraph (a) of Part B of section 3 of chapter 62 of the General Laws, as most recently amended by section 42 of chapter 139 of the acts of 2006, is hereby further amended by adding the following paragraph: -
16. All amounts contributed to college savings plans offered by Massachusetts educational financing authority for college tuition, provided that if the child for whom the plan is established fails to complete 18 hours of college as a fulltime student by his twenty-first birthday, all amounts exempted shall be repaid to the commonwealth.
