IN SB0141 | 2012 | Regular Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 4 2012 - 25% progression, died in committee
Action: 2012-01-04 - First reading: referred to Committee on Appropriations
Pending: Senate Appropriations Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Provides that a contribution to a college choice 529 education savings plan does not qualify for the 20% income tax credit if the contribution occurs after the beneficiary becomes 32 years of age, for accounts opened after December 31, 2011. Reduces the amount of contributions that qualify for the tax credit in a year by the amount of any qualified withdrawals that occur in the same year. (Current law provides for the recapture of any credit granted when a nonqualified withdrawal is made.)

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Income tax credit for college 529 plan.

Sponsors


History

DateChamberAction
2012-01-04 First reading: referred to Committee on Appropriations
2012-01-04 Authored by Senator Kenley

Indiana State Sources


Bill Comments

feedback