Bill Text: MA H2721 | 2009-2010 | 186th General Court | Introduced
Bill Title: Provide for an income tax deduction for contributions made to college savings plans
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 [H2721 Detail]
Download: Massachusetts-2009-H2721-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Brian S. Dempsey
_______________
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 Providing for a Certain Income Tax Deduction.
_______________
PETITION OF:
|
Name: |
District/Address: |
|
Brian S. Dempsey |
3rd Essex |
[SIMILAR MATTER FILED IN PREVIOUS
SESSION
SEE HOUSE, NO. 2886 OF 2007-2008.]
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
An Act Providing for a Certain Income Tax Deduction.
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 subsection B of section 3 of chapter 62 of the General Laws, as appearing in the 2004 Official Edition, is hereby amended by adding the following subparagraph:-
(14) An amount equal to the amount contributed by the taxpayer to a college savings plan authorized under section 529 of the Code. The amounts to be deducted hereunder shall not exceed:
(A) in the case of a single person or a married person filing a separate return, $5,000;
(B) in the case of a head of household, as defined under section 2(b) of the Code, filing a separate return, $7,725; and,
(C) in the case of married persons filing jointly, $10,000.
SECTION 2. Section 1 shall be effective for taxable years beginning on or after January 1, 2007.
