HOUSE DOCKET, NO. 1989        FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1705

 

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 adoption of the accompanying bill:

An Act creating a tax exemption for college savings plan contributions.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Michael J. Moran

18th Suffolk

1/20/2011

Thomas M. Stanley

9th Middlesex

1/28/2011

Paul W. Mark

2nd Berkshire

2/3/2011

Stephen R. Canessa

12th Bristol

2/3/2011

Kevin G. Honan

17th Suffolk

2/4/2011


HOUSE DOCKET, NO. 1989        FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1705

By Mr. Moran of Boston, a petition (accompanied by bill, House, No. 1705) of Michael J. Moran and others for legislation to provide for an income tax exemption for certain college savings plan contributions.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 2833 OF 2009-2010.]

 

The Commonwealth of Massachusetts

 

_______________

In the Year Two Thousand Eleven

_______________

 

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.