Bill Sponsors: IN SB0245 | 2018 | Regular Session
Bill Title: College savings program. Establishes a state income tax credit for employers who contribute to employees' 529 education savings accounts. Limits the credit to $100 per employee. Allows taxpayers to designate an income tax refund to a 529 education savings account. Requires the Indiana education savings authority to make a contribution to 529 education savings accounts of lower income account owners in the amount of the lesser of: (1) the amount the account owner contributed minus the amount the account owner withdrew from the account in the previous calendar year; or (2) $250. Makes an annual appropriation from the state general
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-01-03 - First reading: referred to Committee on Tax and Fiscal Policy [SB0245 Detail]
Text: Latest bill text (Introduced) [PDF]
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-01-03 - First reading: referred to Committee on Tax and Fiscal Policy [SB0245 Detail]
Text: Latest bill text (Introduced) [PDF]
Sponsors
Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
---|---|---|---|---|---|---|
Senator Eric Koch [R] | Primary | Sponsored Bills | SD-044 | FollowTheMoney | Ballotpedia | VoteSmart |