SENATE DOCKET, NO. 1202        FILED ON: 1/16/2015

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1468

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Eileen M. Donoghue

_________________

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 building real incentives for college savings.

_______________

PETITION OF:

 

Name:

District/Address:

Eileen M. Donoghue

First Middlesex

Thomas A. Golden, Jr.

16th Middlesex

Paul W. Mark

2nd Berkshire

Aaron Vega

5th Hampden

Robert M. Koczera

11th Bristol

James B. Eldridge

Middlesex and Worcester

Leonard Mirra

2nd Essex

James E. Timilty

Bristol and Norfolk

Anne M. Gobi

Worcester, Hampden, Hampshire and Middlesex

Steven Ultrino

33rd Middlesex

Bruce E. Tarr

First Essex and Middlesex

Kevin J. Kuros

8th Worcester

Brian M. Ashe

2nd Hampden

James Arciero

2nd Middlesex

Linda Dorcena Forry

First Suffolk


SENATE DOCKET, NO. 1202        FILED ON: 1/16/2015

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1468

By Ms. Donoghue, a petition (accompanied by bill, Senate, No. 1468) of Eileen M. Donoghue, Thomas A. Golden, Jr., Paul W. Mark, Aaron Vega and other members of the General Court for legislation relative to building real incentives for college savings.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Eighty-Ninth General Court
(2015-2016)

_______________

 

An Act building real incentives for college savings.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Subsection (a) of section 3B of chapter 62 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by inserting at the end thereof the following new paragraph:-

(17) An amount equal to the amount expended in such taxable year for the purchase of an interest in, or contributed in such taxable year to an account in, a prepaid tuition program or college savings program established by the commonwealth or any instrumentality or authority thereof. In the case of a single person or a married person filing a separate return or a head of household, the total amount deducted in such taxable year shall not exceed $5,000. In the case of a married couple filing a joint return, the total amount deducted in such taxable year shall not exceed $10,000.