Bill Text: NY J02616 | 2019-2020 | General Assembly | Introduced

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Bill Title: Memorializing Governor Andrew M. Cuomo to proclaim May 29, 2020, as 529 College Savings Day in State of New York

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2020-01-28 - ADOPTED [J02616 Detail]

Download: New_York-2019-J02616-Introduced.html

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Senate Resolution No. 2616

BY: Senator PARKER

        MEMORIALIZING Governor Andrew M. Cuomo to proclaim
        May  29,  2020,  as  529  College Savings Day in the
        State of New York

  WHEREAS, It is the custom of  this  Legislative  Body  to  recognize
official days that are set aside to increase awareness on the importance
of an educational investment plan to the citizens of New York State; and

  WHEREAS,  Attendant  to  such  concern,  and in full accord with its
long-standing traditions, this  Legislative  Body  is  justly  proud  to
memorialize  Governor  Andrew M. Cuomo to proclaim Friday, May 29, 2020,
as 529 College Savings Day in the State of New York, in conjunction with
the observance of National 529 College Savings Plan Day; and

  WHEREAS, With nearly 70% of Americans unsure of what a 529 plan  is,
Friday,  May  29,  2020, has been designated as National 529 Savings Day
and serves to raise awareness on the benefits of a 529 investment  plan;
and

  WHEREAS, A 529 College Savings program is a college tuition plan for
children  which  is tax-free both on savings and investments, as long as
it is used for qualified expenses and does not have  income  limitations
on contributors; and

  WHEREAS, With all 50 states and the District of Columbia offering at
least  one  529 plan, many states offer a tax deduction to those who use
their state's plan; and

  WHEREAS, Many states are promoting May  29  (5/29)  as  a  day  with
special  meaning, and are looking to boost interest and participation in
their 529  savings  programs  with  various  sweepstakes,  contests  and
incentives; and

  WHEREAS,  It  is  imperative  that there be greater awareness of 529
College Savings Plans, and more must be done to increase activity at the
local, State and National levels; now, therefore, be it

  RESOLVED, That this Legislative Body pause in its  deliberations  to
memorialize  Governor  Andrew  M. Cuomo to proclaim May 29, 2020, as 529
College Savings Day in the State of New York; and be it further

  RESOLVED, That a copy of this  Resolution,  suitably  engrossed,  be
transmitted  to  The Honorable Andrew M. Cuomo, Governor of the State of
New York.